Raise Prices on Everyday Products

If things go as planned, American consumers may have to pay more for necessary products as from this week Trump imposed new tariffs on China, Mexico, and Canada. The tariffs that are to take effect from Tuesday include a 25 per cent tax on Mexican products, 10 per cent tariff on Chinese goods and 10 per cent tariff on the majority of Canadian goods, energy products being exempted. This is because the impact will be felt across multiple industries. Fruit, vegetables and meat may be more expensive as Mexico and Canada are major food suppliers to the United States. Gas and energy costs may also rise because the U.S. imported $97 billion worth of oil and gas from Canada last year. The automotive industry is also going to face challenges as $87 billion in vehicles and $64 billion in auto parts are imported from Mexico every year. The prices of steel and construction materials will also rise as Canada and Mexico supply a large portion of US steel. Beer and alcohol prices may rise, particularly for Mexican brands like Modelo and tequila. Also, phones, laptops, and game consoles, among other electronics, toys, and appliances made in China may be more expensive. It remains to be seen how long the market will be able to absorb the impact of Trump’s tariffs on key imports as both businesses and consumers are likely to feel the pinch in terms of increased prices across a variety of products, including food, vehicles and home construction.

What's Hot

Trump’s Tariffs Could Raise Prices on Everyday Products in the US

UDAN Scheme Revamp: Govt to Connect 120 New Destinations in 10 Years

Ola Unveils Gen 3 Electric Scooters: Prices, Features, and Market Impact

Effective Yoga Poses to Naturally Manage Blood Sugar Levels

Health Budgets Of States Fall Below 8%, Missing National Health Policy Targets

The Connection Between Diet and Organic Skincare – Foods for Healthy Skin

The Rise of Organic Skincare – Embracing Nature’s Love for Your Skin!

Jana Nayagan: Vijay Wields a Whip in Stunning 2nd Look Poster, Thrilling Fans

Assam’s Jatin Goswami Honored with Padma Bhushan for Sattriya Legacy

Vijay Vikram Singh Urgently Appeals for Respect Amidst Intense Backlash from Rajat Dalal Fans: ‘I Am Not Bigg Boss

‘Extremely Egoistic’ Film Star Faking Humility: Shark Tank India’s Aman Gupta

Hindon: Incredible Air India Express Flights to Start from March 1 with Low Fares

Indian government approves Singapore Airlines bid to merge Vistara and Air India

Independence Day and Raksha Bandhan Fuel Airbnb Travel Rush

Hindon: Incredible Air India Express Flights to Start from March 1 with Low Fares

Bachchan’s ₹83 Crore Duplex Sale Sparks Unbelievable Investment Growth

Kartik Aaryan’s Fitness Secret: How He Achieved a Stunning Transformation

Effective Yoga Poses to Naturally Manage Blood Sugar Levels

Browsing: Raise Prices on Everyday Products

Trump’s Tariffs Could Raise Prices on Everyday Products in the US

Trump’s Tariffs Could Raise Prices on Everyday Products in the US

UDAN Scheme Revamp: Govt to Connect 120 New Destinations in 10 Years

Ola Unveils Gen 3 Electric Scooters: Prices, Features, and Market Impact

NPCI Enforces Strict UPI Rule: Special Characters Banned from February 1

Our Picks

Trump’s Tariffs Could Raise Prices on Everyday Products in the US

UDAN Scheme Revamp: Govt to Connect 120 New Destinations in 10 Years

Ola Unveils Gen 3 Electric Scooters: Prices, Features, and Market Impact

Most Popular

Trump’s Tariffs Could Raise Prices on Everyday Products in the US

Harvesting Hope: Rahul Gandhi’s Empathy in Action with Farmers before 2024 Elections

Is Modi Afraid? Congress Leader Accuses PM of Targeting Rahul Gandhi

Subscribe to Updates

What's Hot

Browsing: Raise Prices on Everyday Products