Americans brace for price hikes as Trump plans immediate tariffs

Over the past few months, Trump has suggested a range of tariff proposals related to key trading partners with the US, including China, Mexico, Canada, and the BRICS nations. Trump’s largest target has been China, with a 60% tariff proposal, along with a 25% tariff on imports from Canada and Mexico.

Trump has not specified which authorities he will use for tariff implementation, and it’s possible that he could choose to roll them out at a smaller scale than he had initially proposed. However, he has previously said he wants to begin the process of putting tariffs in place on his first day in office, saying that he’ll use his executive authority to roll them out at the beginning of his term.

“On January 20th, as one of my many first Executive Orders, I will sign all necessary documents to charge Mexico and Canada a 25% Tariff on ALL products coming into the United States, and its ridiculous Open Borders,” Trump wrote in a November post on Truth Social.

Some reports have suggested that Trump might use the International Emergency Economic Powers Act, which would allow a president to impose tariffs in the event of a national emergency. Some trade policy experts told Business Insider that Trump could use emergency powers to begin rolling out his tariff plans on day one.