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Items that may become more costly due to Trump’s tariffs


President Donald Trump’s tariffs against Mexico, Canada, and China have gone into effect, with a 25% wholesale tariff on Mexico and Canada, and a 10% tariff on China. The sweeping tariffs will impact a wide range of imports, from fruits and vegetables from Mexico to potatoes and lumber from Canada. A major portion of trade between the U.S., China, and Mexico includes agricultural products, which could result in higher meat and dairy prices for consumers. Automotive supply chains between the three countries are also deeply intertwined, meaning cars and auto parts are likely to become more expensive.

The tariffs come as grocery prices in the U.S. are already on the rise, with a 28% increase over the last five years. In addition to grocery prices, routine car maintenance could also become more costly as oil filters and other parts become more expensive. The tariffs could escalate further, with a “retaliation clause” signaling the potential for increased tariffs in response to any retaliatory measures.

Trump has justified the tariffs under the International Emergency Economic Powers Act, citing the fentanyl and drug crisis as a threat that China, Mexico, and Canada are facilitating. The impact is significant, as the top three trading partners accounted for over $1.2 trillion of imports last year. The 10% tariff on Canadian energy is particularly noteworthy, as Canada exports almost all of its crude oil to the U.S., and any additional costs could lead to higher gas prices. The tariffs are expected to have severe economic consequences for all countries involved, with potential impacts on inflation and economic growth.

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