NEW YORK, February 3. /TASS/. New tariffs on goods from Canada, Mexico and China announced by US President Donald Trump are likely to result in higher prices for lots of products, including computers, tequila and gas, in the United States, The New York Times wrote.
"Because of the combination of these three countries, it’s going to be difficult to go down an aisle of a grocery store and not see some sort of inflationary effect," Jason Miller, a professor of supply chain management at Michigan State University, was quoted as saying.
Fresh produce, much of which is imported from Mexico, is one of the first categories where shoppers might notice an uptick in prices, the paper said. These items include avocados, tomatoes and strawberries. Price increases are also poised to hit liquor aisles, especially beer and tequila. Inflation may spread to meat and grain imported from Canada as well.
The tariffs are also widely expected to raise the prices that American consumers pay for new automobiles, the publication said. "Auto manufacturers ship tens of billions of dollars worth of finished automobiles, engines, transmissions and other components each week across the US borders with Canada and Mexico. Billions of dollars more are imported from parts manufacturers in China," the newspaper said.
Trump has imposed a 25% tariff on imports from Mexico and Canada (10% on Canadian energy), and a 10% additional tariff on China. Canada, China, and Mexico account for one third of all goods and services imported by the US. In 2023, the volume of those three countries’ exports to the US totaled almost $1.5 trillion.