Trump's 25% Tariffs on Canada & Mexico Will Lead to a Recession

President-elect Trump has announced he will implement a 25% tariff on all imports from Canada and Mexico when he takes office on January 20, 2025. There will also be an additional 10% tariff on goods from China on top of existing tariffs. 

Trump is ostensibly doing this as a means to stem the flow of illegal drugs coming into the United States. 

Whatever the motivation, wide scale implementation of tariffs cut off our nose to spite our face.

Nothing good can come of this policy. We can expect higher unemployment, higher prices, higher inflation, less demand, diminished growth and investment, lower GDP leading to a recession and an international trade war.

So, if you voted for Donald Trump because you thought the price of eggs and milk was too high then you're going to learn the hard way that Trump isn't what he is cracked up to be because you will have been milked for everything you are worth.