Trump's last tariffs: here's what consumers will spend more on consumers

Newly implemented tariffs in Mexico, Canada and China can lead to higher prices in many imported goods to the United States

Tariffs for President Donald Trump The top US business partners have been implemented on Tuesday, with Canada and Mexico each deal with 25 % of their import taxes. At the same time, the goods from China now have 10 % of the tariffs on them, based on the tariff as the Trump administration had previously imposed in early February.

Tax on imports from Canada And Mexico has had a one -month pause under a month, but has now ended with the implementation of Tuesday.

“Billions of dollars of new taxes on Approximately 1.5 trillion in annual trade -With the uncertainty of the sky-critically, it will be returned throughout the economy, “Vice President of Economics Cato, Scott Linkamacum told Fox Business.” Whether this energy is car, consumer goods, food or industrial inputs such as steel, it will be pain for Americans. The only question is who is ultimately more tolerant of companies or consumers. ”

Trump's tariffs on China, Canada and Mexico apply

“Tariffs” act as taxes, increasing the costs of everyday goods such as shoes, and significantly weighing American families and jobs, “said Matt Prist, the CEO of shoe distributors and retailers (FDRA).

According to FDRA, China is responsible for 1.2 billion pairs of shoes imported to the United States in 2023. Meanwhile, about 23 million pairs came from Mexico that year.

The Retail Industry Leaders Association, whose members ranging from public dollars and gaps to Costco and moreWith He also warned Americans on Tuesday about raising domestic goods prices.

“The American people are counting on Trump's President to reduce costs and grow US economy,” said Michael Hanson in a statement. “Tariff accumulation on domestic goods also increases the costs of American families, millions of them have been the worst period in forty years.”

Various popular technical products can also become more expensive due to tariffs, especially taxes In ChinaHuman

According to the January report of the Consumer Technology Association (CTA), approximately 79 % of laptops and tablets imported to the United States have come from China, while it offers about half of US speakers and headphones. CTA has found that when it comes to smartphones, Chinese imports show 78 % for the United States.

The founder of the RSK Design Ravi Sawhney had earlier said that Fox Business consumers “unlikely to see significant price increases” on smartphones from “immediate term” tariffs.

Get your new smartphone before impact tariffs

“Most major smartphone manufacturers planned inventory and pricing programs months ago, so the stocks in the market are not affected,” he explained. “In addition, companies often increase short -term costs rather than immediately transfer them to consumers.”

However, the South said that smartphone buyers “can see a gradual increase in prices in the next few months” If the United States still maintains tariffs, manufacturers “would attract higher production costs, change supply chains, or transfer costs directly to consumers.”

The best purchase on Tuesday said US consumers were “very likely” and will see prices rise in consumer electronics.

“The electronic supply chain is very global, technical and complex,” said Corie Barry. “While the best purchase only imports 2 % to 3 % of our overall sets, we expect our sellers to be transferred to retailers at some tariff costs and raise prices for US consumers.”

Food is another area where Americans can see a rise in tariff prices.

Canada provides tens of billions of dollars in the value of imported agricultural products to the United States each year. These include cereals, meat, vegetables and dairy.

Mexico It is also an important business partner when food, fruit, vegetables, alcohol and other products to the United States.

When Trump initially unveiled Canada and Mexico's import tariffs in early February, the National Home Manufacturers Association (NahB) said they could “increase the cost of construction and discourage new development” while consumers are “exposed to” paying tariffs at higher home prices. ”

According to Nahb, the United States imports more than 70 % of its soft and plaster wood from Canada and Mexico.

In addition, Americans can pressure the price of the car at $ 12,000 higher because of the tariffs of Mexico and Canada.

Car prices could rise $ 12,000 because of Trump's latest tariffs

Tariffs can potentially hit some car parts several times, as they cross the borders through the border through the very interconnected car supply chain between the US, Canada and Mexico. Kato Institute reportedHuman

Tariffs can affect the energy sector. Trump's action against Canada includes less than the US neighbor's energy, which is 10 %.

For example, Mara, the head of the Massachusetts government, could have their impact on the costs of his state and the broader region of the United Kingdom.

According to a press release by his office, 10 % of Canada's oil and natural gas import tariffs could result in a cost of $ 370 million a year for Massachusetts. He said it could be more than $ 1 billion throughout the United Kingdom.

A report from Budget laboratory in Yale Trump's tariffs in China, Canada and Mexico can weigh an average of $ 1,600 to $ 2000 per family before they can switch on their purchases. The average cost is $ 1,100 to $ 1,400 afterwards.

Jay Carosu, Eric Rivele and Daniela Geneva were involved in the report.