If he follows through, it could raise prices on many day-to-day items as economists are almost unanimous that tariffs are passed on as consumer price increases.

US President Donald Trump on Monday announced plans to levy tariffs on imports of computer chips, pharmaceuticals, steel, aluminum, and copper. The purpose is to bring production to the United States, boosting domestic manufacturing and aiding the production of military hardware.

In its first day, the Trump Administration issued a package of new executive orders and policy memoranda that impact many sectors of the economy. Included in the package is a release titled the America First Trade Policy,

Canada’s draft plan to retaliate against US tariffs may roll out in stages, with the government preparing to hit all American steel and aluminum products with counter-tariffs if necessary, said an official with knowledge of the matter.

Calling Biden’s CHIPS Act incentives ‘ridiculous,’ he claimed companies will build new plants in the US to avoid higher taxes and called DeepSeek’s AI a ‘positive.’