Among the myriad pre-presidency Trump pronouncements is his threat to levy 25-percent tariffs against all Canadian and Mexican goods and services unless those countries undertake greater efforts to secure their borders with the United States against flows of illegal drugs (especially fentanyl) and illegal migration. There are a couple of ways to think about this.
Douglas Holtz-Eakin is the President of the American Action Forum. He specializes in finance, personal finance, business and economics, and government and politics, often covering topics such as markets, inflation, taxes, and the impact of AI on the economy. Holtz-Eakin has been featured in the American Action Forum and the American Enterprise Institute.