Hello, from CNN, I'm Joe Beck, with the five things you need to know for Tuesday,

November 26th. President-elect Donald Trump has upped the ante on his promise of massive tariffs.

Last night, he said he'll be introducing a 25% tax on all goods coming into the. from Mexico and Canada on day one of his administration.

According to Trump, the move is in retaliation for illegal immigration, as well as, quote,

crime and drugs coming across the border. Similarly, he says China will see at least a 10% jump

in existing tariffs, until it stops

the flow of illegal drugs into the U.S., particularly fentanyl.

In response to Trump's announcement, a Chinese embassy spokesperson said, quote,

"...no one will win a trade war."

But while Trump is promising to hit the ground running with tariffs, his nominee for

Treasury Secretary, Scott Besant, has signaled in the past that he'd taken But while Trump is promising to hit the ground running with tariffs, his nominee for Treasury

Secretary Scott Besant has signaled in the past that he'd take a different approach.

Take a listen to what he told CNBC the day after Trump won the election.

I would recommend that tariffs be layered in gradually, which would the price adjustment would be over a period of time.

Tariffs could sharply increase costs for American businesses and consumers, as Mexico and

China are two of the biggest exporters of goods to the U.S.

A ceasefire between Hezbollah and Israel is expected to be announced today.

That's what a Lebanese official has told CNN, as Israel's cabinet is expected to vote on a deal.

We asked CNN's Paula Hancock's for the latest.

Well, Joe, there is optimism, but it is cautious optimism.

The Biden administration, who has helped broker this ceasefire,

says nothing is final until everything is final.

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