The tariffs impact three of the biggest trading partners of the U.S.
WASHINGTON, D.C., USA โ The tariffs impact three of the U.S.โs biggest trading partners.
President Donald Trump imposed a 25% tariff on goods from Mexico and Canada, and a 10% increase on imports from China.
The White House says this is meant to address trade imbalances, illegal immigration and drug trafficking. However, experts warn it could also raise prices on everyday items.
Tariffs act as a tax on imports, which businesses often pass down to consumers.
Under these latest tariffs, you could see price increases on Mexican products like avocados, tomatoes, beer and dairy.
Canadian products like lumber, aluminum, steel appliances and books will also be impacted.ย
Canada and Mexico are already preparing retaliatory measures, increasing the risk of a trade war.
And while itโs not clear how the move will ultimately impact American wallets, it could have major consequences for global trade.
About The Author
