What are tariffs and who pays for them? Here’s what to know about Trump’s proposal

News Snapshot:

WASHINGTON — On Monday, President-elect Donald Trump sent shockwaves across the nation’s northern and southern borders, vowing sweeping new tariffs on Mexico, Canada, as well as China, as soon as he takes office as part of his effort to crack down on illegal immigration and drugs. In a pair of posts on his Truth Social site, Trump spoke against an influx of immigrants lacking permanent legal status, even though southern border apprehensions have been hovering near four-year lows. Advertisement Advertisement He said he would impose a 25% tax on all products entering the country from Canada and Mexico, and an...