How can Canada, China and Mexico affect American consumers | Real Time Headlines

President Donald Trump repeatedly discussed the tariffs on products in Canada, China and Mexico during the campaign and time. It will take effect on February 1stWhite House confirmed on Friday.

Economists say that although there are still some unknown, one thing is very clear: American consumers Should be prepared Negative financial influence.

Mary Lovely, a senior researcher at the Institute of International Economics of Peterson, said that this is “difficult to find positive tariffs”, and his research specializes in trade with China and the global supply chain.

The White House press secretary Karoline Leavitt said on Friday that Trump plans to impose 25 % tariffs on Mexico and Canada, and the White House press secretary Karoline Leavitt said on Friday that China’s in China 10 % tariff.

China, Mexico and Canada are three The biggest trading partner Together with the United States, measure it through imported goods. them supply According to data from the U.S. Trade Representative Office, in 2022, about 536 billion US dollars, $ 455 billion and $ 437 billion, respectively.

Tariffs are taxes on foreign imports. Imported American companies pay the tax to the federal government.

Economists say that many companies will directly or indirectly gather these additional expenses to customers, which is why tariffs usually trigger rising consumer prices.

Cute said: “Some of these tariffs will be passed to consumers.”

She said that Americans can also find that there are fewer brands and products stored on store shelves.

For example, it is unclear whether there are any imports. Trump recommends on Thursday night, Canadians Petroleum may be exemptEssence The White House said that tariffs will be opened for public inspections on Saturday.

A White House official told CNBC on Friday morning that the discussion around such details was “ongoing.”

Mark Zandi, chief economist of Moody’s, said: “There are always exemptions and sculptures.”

Zandi said Trump might try to “restrict damage to American consumers” through these exemptions. He said, for example, he can choose not to apply for duties from China, Mexican’s avocado or Quebec cheese.

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25 % of Canadian Mexico tariffs and 10 % Chinese tariffs will raise about 1.3 trillion US dollars on the net basis. The committee is responsible for the federal budget EstimatedEssence This income can be used to partially deduct the cost reduction cost. This is a package It may cost more than $ 5 trillion More than 10 years.

However, during the second term of the Trump administration, additional tariffs on China will reduce the US economy by $ 55 billion, assuming that China has retaliated its tariffs. analyze Warwick MCKibbin and Marcus Noland, Economist at Peterson Institute of International Economics.

They found that 25 % of tariffs on Mexico and Canada will lead to a decrease of US $ 200 billion in GDP.

At the same time, economists expect more tariffs in the future.

For example, in the campaign, Trump increased the general tariffs of 10 % or 20 % of all imports, such as at least 60 % of Chinese goods.

According to October, 20 % of tariffs and 60 % of Chinese goods global will increase the average US cost of US $ 3,000. analyze Tax policy center.

Zan Di said: “Based on extensive common tariffs and the damage it will cause is not a real debate.” “They will cause damage. This is just a problem, which is how much.”

Tariffs to China May Maximum direct impact Zan Di said that most of consumers are consumer products, such as clothing, toys and electronic products.

China is the “main supplier” of toys and sports equipment in the United States, which can provide 40 % of shoe imports and 25 % of electronic products and textiles. analyze PIIE economist.

The tariffs between Mexico and Canada will also “put on pressure on food prices”, according to Give Pie Economist.

These countries are the “important sources” of vegetables, accounting for 47 % of the total US imports and 42 % prepared foods. They found that transportation equipment and machinery, electronics and fuel are the most affected departments.

Nigel Green, CEO of the financial consulting company Devere Group, said in a written statement: “The United States imports about 40 % of its crude oil.”

Green wrote: “If oil is hit by tariffs, this impact may hit the energy market, thereby increasing the cost of enterprises and consumers.”

However, domestic energy manufacturers, some American manufacturers and other industries “may obtain short -term returns from reducing competition.”

Lydia Cox, an assistant professor of economics at Madison, said at a recent online seminar that indirectly, American manufacturers may increase prices because foreign competition they face decreased. Competition of certain products.

Cowks said that American companies using tariff products to produce their products may also increase the price of downstream products. For example, steel tariffs may cause The price of the car is highHeavy machinery and other steel products.

“Unlike Canada and Mexico, this will be unimaginable. China has made revenge in the past and may do this again.” Pie economist Write recent.

Economists say that tariffs may have accidental consequences of destructive work.

PIIE’s lovely said that tariffs created our ability to work “very much, exaggerated.”

Take steel as an example. In the industry, 80 workers use steel as a investment in each steel. PaperEssence

Cowks said that tariffs have caused “there are many damage along the way”, which is why economists warn not to use it based on extensive use.