President Trump has revealed plans to slap 25% tariffs on goods from Mexico and Canada starting February 1, marking a significant shift in North American trade policy. This decision, announced during an Oval Office ceremony, could lead to higher prices for American consumers and potentially spark retaliation from the two countries. Mexico and Canada are among the U.S.’s top trading partners. Last year, the U.S. imported nearly $475 billion worth of goods from Mexico and $418 billion from Canada. Together, these imports make up 30% of all goods brought into the country. On the flip side, the U.S. exported $354 billion to Canada and $322 billion to Mexico, accounting for a third of total exports. The proposed tariffs could lead to retaliatory measures from Mexico and Canada, which might hurt U.S. businesses. Experts warn that this move could backfire, creating a “self-inflicted wound” on the American economy. While Trump has long championed tariffs as a tool to protect U.S. interests, t