Electronics, food and alcohol: This is how Trump’s tariffs will affect prices in the US

by | Feb 2, 2025 | Family | 0 comments

President Donald Trump fulfilled his election promise by announcing that he would impose high tariffs on America’s three largest trading partners – Mexico, Canada, and China – citing a national emergency caused by the entry of illegal immigrants and fentanyl drugs across the country’s borders. On Saturday, he signed an order imposing the steep tariffs on imports, prompting fast reaction and an evident sense of betrayal from the country’s North American neighbors as a trade war started between the longstanding allies.

The Republican president stated on social media that the duties were required “to protect Americans,” urging the three countries to do more to combat the production and export of illicit fentanyl, as well as for Canada and Mexico to prevent illegal immigration into the United States. Fruits and vegetables, meat, gasoline, automobiles, technology, toys, clothing, lumber, beer, and other alcoholic beverages are some of the most frequent and necessary commodities utilized by Americans.

If the tariffs are kept in place, inflation might accelerate dramatically, jeopardizing many voters’ trust in Trump to cut the prices of groceries, gasoline, housing, automobiles, and other items as promised. They also put the global economy and Trump’s electoral mandate at jeopardy just two weeks into his second term. Trump declared an economic emergency, imposing 10% tariffs on all Chinese imports and 25% on goods from Mexico and Canada. Energy imports from Canada, including oil, natural gas, and electricity, would be taxed at 10%. Trump’s decision includes a mechanism to boost the rates imposed by the US in response to retaliation by other countries, raising the prospect of an even more severe economic upheaval.

 

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