President-elect Donald Trump threatened to impose new tariffs on Mexico, Canada and China as soon as he takes office as part of his efforts to crack down on illegal immigration and drugs.

President-elect Donald Trump said he would impose a tariff on products from Canada and Mexico until they stop flow of drugs, migrant crossings.

This announcement follows a commitment from Biden to honor the electoral process and participate in the swearing-in ceremony, regardless of the outcome of the presidential election. White House Senior Deputy Press Secretary Andrew Bates affirmed this on Nov.

Despite repeatedly describing Trump as a threat to democracy during the 2024 campaign, Democrat Biden has made a point of providing Trump with the smooth transition that the Republican denied him.

If confirmed, Bessent would runn the department that manages the nation's finances as well as its tax agency, the Internal Revenue Service.

Stocks rose at the opening bell Monday, with investors attributing gains to relief over Donald Trump's selection of hedge-fund manager Scott Bessent to serve as Treasury secretary. "Risk on as markets see bonds rally,

The stock market reacted positively to President-elect Donald Trump's pick for Treasury secretary, hedge fund CEO Scott Bessent. CBS MoneyWatch correspondent Kelly O'Grady has more.