The United States entered the trade war. Donald Trump’s decision to apply a 25% tariff for goods from Mexico and Canada, as well as 20% of Chinese goods, can be extensive and long-term effects on the bottom line of millions of Americans. Follow these reciprocal tariffs, where other countries are accused of accusing US goods imported by the last month of the last month. (Canada and China have already retaliated with their own tariffs.)
The tasks are unlikely to come as a surprise. The campaign was clear about the intention to punch tariffs for tariffs in many countries (even if this tour was postponed a month ago). He also used tariffs in the first period of the White House. Although Trump has extensive disagreement among economic experts about this theory, the tariffs claimed to have economic benefits for the United States.
Tax Foundation will reduce the fact that Trump’s tariffs will increase by 2.2%. This is $ 2,200 for a home that makes up $ 100,000. The Tax Policy Center is a little less pessimistic, tariffs will reduce after tax income 1%.
The National Retail Federation “The growing economic research body has tried to assess the impact of proposed tariffs to the US economy. Each year has a net negative effect on the United States with results up to $ 7,600 each year.”
Some companies already warn customers that they will be forced to raise prices, others will not insist. Are likely to be a continuous developing list. (For example, Trump, threatening to increase Canadian tariffs, said that after a while revenge this country, and previously threatened the European Union with a 25% tariff.
The bottom line is that the tariffs will have more effect than your financial situation, perhaps you imagine. There are several ways to integrate several belt intensions here.
Food stores and household items
The most immediate effect of tariffs will probably be felt in the grocery store. About half of the vegetables consumed in the United States and 40% of imported fruits are from Mexico. In addition, 90% of all avocados consumed from Mexico. In the last two decades, the volume of fresh vegetables brought from the United States from the Mexico and Canada, according to the 2021 Report of the United States, the volume of fresh vegetables imported from the Mexico and Canada increased by about 200%.
Meanwhile, live cattle and beef in the United States and Canada have the largest two-sided trade. Price growth can come quickly on both sides of the border. Even French potatoes are likely to get the pricier. Canada sent $ 1.7 billion to $ 1.7 billion in the United States in 2023.
Exports from Canada to the United States in 2023 were $ 11.5 billion in 2023, so the summer barbecue will be doubled. And are all markets that have the opportunity to produce plusthings, which meet electronics, toys, clothing and sports equipment, all markets, US security standards.
Scholarship accounts
Because confirming the plans to apply tariffs in Trump, Canada and Mexico, the stock market has been in the center of the tail.
The NASDAQ and S & P 500 now become negative during the year and the Dow is difficult to stick to a positive area (but the trump is less than the place where the trump is selected). Bitcoin has been down since 2025 (almost 9%), despite the announcement of the national crypto-older Sunday.
Of course, the stock exchanges are ebb and natural flow over time. And retirement accounts are long-term savings. But now for people who are painted or planned soon, large drops in the market can affect the money they retire.
Home and car prices
Canada is one of the leading suppliers of Lumber of the United States (and Tortuber futures reached 30-month highs on the news of tariffs). In fact, to compensate and increase our wood production, Trump has signed a decree to expand the wide plots of our national parks and our public lands and the most valuable forests of some countries.
Meanwhile, most of our dryers come from China and Mexico. House builders said they could eventually be able to obtain, not only the price of new construction, but also in the market.
Many automatic manufacturers collect vehicles sold in Mexico in the United States. With some calculations, car and truck prices can rise to $ 12,000.
“The cost of rising expenses due to the tariffs on imports will release several options, which are several options,” he said. “They can choose to exceed higher expenses throughout the consumers, which will tell you higher home prices or try to use these materials less than these materials…. We can see that buyers are ready to pay [higher costs] Newly built houses for existing homes receive Pricier. “