President Trump is threatening tariffs for Canada and Mexico, and he’s already imposed them on China. So what does that mean for prices in North Carolina? Senior Editor Billy Ball explains.
Here’s what’s about to get more expensive if President Trump follows through implementing tariffs on China, Mexico, and Canada.
@cardinalandpine Here’s what’s about to get more expensive if President Trump follows through implementing tariffs on China, Mexico, and Canada. 🤑 That’s because the president is threatening tariffs—or a tax on imported goods—against America’s largest trade partners. Trump has postponed tariffs for Mexico and Canada by 30 days, while his 10% tariffs on China went into effect Tuesday. Tariffs on each of the three countries will almost certainly raise prices for American consumers in different ways. Tariffs on China will impact things like shoes, computers, phones, and more. If Trump ultimately goes through with tariffs on Mexico, we would pay more for agricultural imports from the country, especially fruits and veggies. And we would feel the proposed tariffs on Canada in various ways, including higher prices for cars, lumber, machinery, grain, and other items. Trump says the point is to pressure countries to stop undocumented immigrants and illegal drugs from coming over the border, but most economists say the policies will destabilize the American economy, which is still recovering from post-pandemic inflation, and raise prices further. In response to Trump’s tariffs, China has announced retaliatory tariffs on the US, set to go into effect next week. Tariffs against Mexico and Canada would also certainly prompt retaliatory tariffs against American exports into their countries, impacting manufacturers in the US. For more on how Trump’s economic policies will impact North Carolina, follow @cardinalandpine.
That’s because the president is threatening tariffs—or a tax on imported goods—against America’s largest trade partners. Trump has postponed tariffs for Mexico and Canada by 30 days, while his 10% tariffs on China went into effect Tuesday.
Tariffs on each of the three countries will almost certainly raise prices for American consumers in different ways.
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Tariffs on China will impact things like shoes, computers, phones, and more. If Trump ultimately goes through with tariffs on Mexico, we would pay more for agricultural imports from the country, especially fruits and veggies. And we would feel the proposed tariffs on Canada in various ways, including higher prices for cars, lumber, machinery, grain, and other items.
Trump says the point is to pressure countries to stop undocumented immigrants and illegal drugs from coming over the border, but most economists say the policies will destabilize the American economy, which is still recovering from post-pandemic inflation, and raise prices further.
In response to Trump’s tariffs, China has announced retaliatory tariffs on the US, set to go into effect next week. Tariffs against Mexico and Canada would also certainly prompt retaliatory tariffs against American exports into their countries, impacting manufacturers in the US.
