President Donald Trump’s 25% tariffs on Canadian and Mexican imports, set to take effect Tuesday, could lead to higher energy costs for New Yorkers, experts warn. Since upstate utilities rely on Canadian electricity, gas, and oil, consumers may see increased utility bills.
Finance experts note that while tariffs may boost domestic energy production, they will also drive up costs for consumers who lack alternative energy sources. The impact could be immediate.
Trump argues the tariffs will strengthen U.S. manufacturing and reduce drug trafficking, but negotiations with Canada and Mexico remain uncertain. Experts suggest more price fluctuations could follow.
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