President Donald Trump has signed a tariff on Mexico with the neighbor of Canada and Mexico, like China. Canada and Mexico immediately announced retaliation tariffs, but China needed to take “necessary measures.”
Currently, the business between nations in North America is beyond China, with a total of $ 1.8 trillion in 2023. This is much larger in China in China in the same year than $ 643 billion.
Trump has declared an economic emergency on Saturdays to impose 10 % of all imports from China and 25 % for imports from Mexico and Canada. The energy imported from Canada, including oil, natural gas, and electricity, is taxed at a 10 % tax rate.
The following imports only a few imported items that can hit the price first.
“Grenade” loobed by automotive production
For decades, automobile companies have built a supply chain across the United States, Mexico and Canada. According to S & P Global Mobility, more than one car and light trucks in five cars sold in the United States have been built in Canada or Mexico. In 2023, the United States imported a 69 billion dollar -worth car and a light truck from Mexico (more $ 37 billion from Canada). In addition, $ 78 billion of automotive parts came from Mexico to $ 20 billion from Canada. For example, the FORD F series pickup and the iconic Mustang Sport Coupe engine come from Canada.
“There are many times that crosses the borders before entering the finished product, such as engine and car seats,” said Scott Linsicom, a trade analyst at the Liberatarian Kato Research Institute. “American parts go to Mexico, get into the vehicle, and then return to the United States.
“You throw 25 % tariffs on all of them, and it’s just a hand REN bullet.”
China is also a major supplier of US automotive parts.
In a Tuesday report, S & P Global Mobility believes that “importers are likely to increase most costs, even if they are not all consumers.” According to the Kelley Blue Book, the average new car is already $ 50,000 and the average used car is $ 26,000.
The price in the pump will be high
Canada is the largest oil supplier in the United States. From January to November last year, Canada shipped crude oil equivalent to $ 90 billion.
There are no many options for many US refiners. Linsicom said, “the type of crude oil for American refinery to handle,” said Canada. “It’s a heavier crude oil. All flacking and all oils and gas made in the United States are light crude oil that many American refiners do not deal with most of the Mids and West.”
Linsicom said, “How does it shake? In my guess, in my guess, Linsicom is shaking only at higher gas prices.” TD economics is a Trump tariff. However, we believe that gasoline prices may increase by 70 cents per gallon per 30 cents.
Computers, clothes, toys
Customs duties to China can affect the various consumer goods that Americans depend on. According to data from the Ministry of Commerce, mobile phones, computers, and other electronic devices were one of the top imports from China last year.
The United States has also imported more than $ 32 billion of “toys, games and sports equipment” from China last year.
And Americans import billions of dollars every year from China. According to data from the Ministry of Commerce, it contains more than $ 7.9 billion last year last year.
Trouble of Margarita Building
Customs duties can raise the price of people who raise the glass of whiskey in Tequila and Canada.
In 2023, the United States imported Tequila equivalent to $ 4.6 billion and $ 188 million from Mexico. The United States has imported a $ 537 million Canadian spirit, including whiskey worth $ 225 million.
Canada and Mexico were the second largest importers of the US spirit in 2023 after the European Union.
The Council stated that the United States has already faced a catastrophic tariff on the European Union, which began in March, to a catastrophic duties in the United States. Proced by imposing tariffs on Mexico and Canada can be more retaliant to the industry.
CHRIS SWONGER, the president and CEO of the council, thanked the goal of protecting US employment. However, Tequila and Canadian whiskey are designated as a unique product that only creates in the country of origin, such as Kentucky Bourbon.
“At the end of the day, the tariffs of spirits from neighbors to the north and south will hurt US consumers and lead to unemployment throughout the US hospitality industry. Swonger said.
Expensive avocado in time for a super bowl
For American consumers who are still angry with high food prices, trade wars with Canada, Mexico, and China can be painful. In 2023, the United States purchased more than $ 45 billion agricultural products from Mexico. This includes 63 % of imported vegetables and 47 % of fruits and nuts. The import of farms from Canada has reached $ 40 billion. 25 % tariffs can increase the price.
“Food shops are operated with really small margins,” Linsicom said. “They can’t eat tariffs … Especially when you basically talk about things like avocado coming from Mexico. You are just before the Super Bowl. I’m talking about “
US peasants are also nervous. Canada and Mexico will retaliate by hitting tariffs on American products such as soybeans and corn. That happened in the first Trump administration. Other target targets for China and Trump’s tariffs counterattacked by targeting the US supporters in the United States. Trump spent billions of US taxpayers’ money and refunded the loss of sales to farmers, as the exports of soybeans and other agricultural products decreased.
“President Trump was as good as his words,” said Mark Mulag, the central city of Nebraska, the central city of farmers who grow pigs, cultivating corn, and popcorn. “It’s then stabbed. It’s certain,” but he prefers the government to open a foreign market to export American farms. “We want to get money from the market,” said Molag, chairman of Nebraska Farm Bureau. “It’s not great to get a government check.”
