President Donald Trump imposed tariffs on imports from Mexico, Canada, and China, triggering retaliatory measures. Effective Tuesday, the U.S. will tax Mexican and Canadian goods at 25% and Chinese imports at 10%. Auto production, reliant on cross-border supply chains, faces significant cost increases, with car prices potentially rising by $3,000.
The tariffs could also raise U.S. gas prices by up to 70 cents per gallon due to Canada’s role as America’s top crude oil supplier. Consumer goods like electronics, toys, and clothing from China may see price hikes. Additionally, agricultural products from Mexico and Canada, including avocados, could become more expensive just before the Super Bowl.
Farmers fear counter-tariffs will hurt exports, as seen during Trump’s first administration.
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