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Trump Tariffs Take Effect: Expect To Pay More For These Items, Experts Say

US tariffs on goods from its three largest trading partners -- neighboring nations Canada and Mexico as well as China -- have gone into effect after President Trump signed an order late Saturday afternoon, Feb. 1.

Some supermarket staples are expected to cost more with tariffs now in effect. Experts say gas prices could rise 50 to 70 cents per gallon.

Some supermarket staples are expected to cost more with tariffs now in effect. Experts say gas prices could rise 50 to 70 cents per gallon.

 Photo Credit: Pixabay/Stevepb (supermarket), Engin_Akyurt (gas pump).
Joe Lombardi
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Canada and Mexico have been slapped with 25 percent tariffs. The rate for China, America's main economic rival, is 10 percent. Canada also has an adjusted 10 percent rate for energy products, include crude oil.

Mexico and Canada account for about 70 percent of US crude oil imports.

Now, many economists are warning that American consumers will be paying more for a host of staple items.

The tariffs could lead to a 50- to 70-cent increase in a gallon of gasoline and also cause a rise in grocery bills, experts told ABC News.

Canada and Mexico are the top two US trading partners for both finished motor vehicles and auto parts, ABC News noted.

According to a breakdown by the Wall Street Journal, price increases are also expected for these items:

  • Smart phones (from China)
  • Maple syrup (from Canada)
  • Cherry tomatoes (from Mexico)
  • Avocados (from Mexico)
  • Tequila (from Mexico)

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