On the 25th local time, US President-elect Trump said that he would impose a 25% tariff on all products entering the United States from Mexico and Canada. In addition, Trump also announced that he would impose an additional 10% tariff on Chinese goods. Trump proposed a general 10% tariff on all imports in an interview last year. In November, a study by the National Retail Federation (NFR) pointed out that if Trump's proposed new tariffs are implemented, American consumers could lose up to $78 billion in annual spending power. The study shows that these tariffs will affect consumer goods such as clothing, toys, furniture, appliances, footwear and travel goods. (CCTV News)