Avocados from Mexico.Cherry tomatoes from Canada.
Cheap clothes from China’s Shein and Temu.Gasoline at the pump.
And even America’s favorite beer.Economists and market analysts are warning that Americans should brace for higher prices on a raft of everyday goods after President Trump announced 25% tariffs on goods from Mexico and Canada and 10% on imports from China.And these are just the things that are likely to go up quickly.Manufacturers have been stocking up on parts and supplies for months in an effort to blunt impact of Trump’s tariffs, but it’s harder to stockpile food and the latest electronics — meaning consumers are likely to see the results soon.Trump acknowledged that consumers could feel the pain of the tariffs — “maybe” — but said, “it will all be worth it” to stop the flow of illegal drugs and migrants into the US and boost American domestic production.
Experts have also said that the tariffs are going to hit Canada and Mexico in particular much harder.For instance, Canada’s exports to the US make up 18% of Canada’s economy, but American exports north are just 1% of US GDP.Here are a few categories of products that could see price increases for American consumers.Shoppers should brace themselves for higher prices at the grocery aisles given that Mexico and Canada are both the largest suppliers of fruits, vegetables, grain, livestock, meats, and poultry to the US.The US imports more than 80% of its avocados from Mexico at $3.1 billion, according to the US Agriculture Department, with the price of guacamole expected to shoot up by Super Bowl Sunday.
Canada also happens to be the biggest supplier of cherry tomatoes in the US, as well as maple syrup, with the cost of both expected to rise.The hit at the supermarkets is expected to hit Americans’ wallets soon — since these things are imported on an ongoing basis.“You don’t stockpile avocados,” William Reinsch, a former US trade official, told the Associated Press....