If President-elect Donald Trump follows through on his threat of imposing new tariffs on Mexico, Canada and China, it could have major repercussions for the U.S. toy industry. Kelly O'Grady explains.

President-elect Donald Trump is vowing to slap heavy tariffs on all foreign-made goods once he reassumes the presidency next year, and some retailers are warning that could be bad news for children who are expecting their favorite toys next Christmas.

Tesla is deeply reliant on China, both for manufacturing and sales. But now that its CEO has an official role in the Trump administration, things could get tricky.

It all happened thanks to Elon Musk. Congress was on a glidepath to heading home for the holidays without much agitation, but the framework of an earlier proposed deal blew up after Musk posted over 150 times on X urging House Republicans to reject what was in place and go back to the drawing board.