Trump's tariffs in Canada and Mexico begin tomorrow – here you can influence the prices

It is unclear how much of the additional costs of the Canadian and Mexican tariffs could be transferred to consumers, but most economists believe that tariffs lead to higher prices.

The 25% tariffs for Canadian and Mexican goods as well as a separate 10% for all other imports that Trump has proposed during the campaign can lead to a quarter of all consumer expenditure to an increase of 0.81% if, according to a Federal Reserve Bank in Atlanta Study, half of the costs pass on, or 1.63% if the costs are completely transmitted.

The 25% Canada and Mexico Tariffs would amount to an estimated total tax increate of between 120 Billion and $ 225 Billion, According to Jacob Jensen, A Trade Policy Analyst at the Centerright Think Tank the American Action Forum, Told the Associated Press, While the Tax Policy Center Estimates After -Tax Income would case by $ 930 on average Next Year from the Taiffs on Mexico and Canada, and the Peterson Institute for Economics Predicts The Taiffs On Canada, Mexico and China would cost the typical US budget per year.

Groceries: A significant portion of food, meat and grain to fresh vegetables, is imported from Canada and Mexico. Canada is the largest exporter of meat to the USA, while 77% of the fresh vegetables were imported from Mexico and 11% were imported from Canada in 2020.

Alcohol: The United States imported alcohol of around 26 billion US dollars from Mexico in 2022, while 18% of the beer from the USA was consumed from Mexico, the USDA.

Gas prices: Canada is the source of around 20% of the oil used by Americans, while Canada and Mexico together make up 70% of US gross imports – a tariff of 25% could increase gas prices by 30 to 40 cents per gallon. Gasbuddy manager of the petroleum analysis Patrick de Haan predicted last year that a lower 10%.

Wood: Canada is the largest wood supplier for the USA, and the tariffs could increase the price per thousand board feet to 600 US dollars of almost 590 US dollars, according to the Forst Resources Association. Trump also investigated the trade department last week whether wooden in-deports threaten national security because officials from the White House argue that the United States should be self-sufficient in the timber industry and that existing guidelines have controlled the construction and housing costs.

Cars: The average price of a new car would increase by an estimated 3,000 US dollar, since 22% of all vehicles from Mexico and Canada sold in the USA are imported, according to S&P Global, while a study by Anderson Economic Group, which is cited by several branches, estimates that a price increase of 9,000 US dollar for a large SUV in Mexico and 8,000 US doors for an admission of 8,000 US dollars for an inclusion of $ 8,000.