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Expect To Pay More For These Items As Trump Tariffs Take Effect

US tariffs on goods from its three largest trading partners -- neighboring nations Canada and Mexico as well as China -- have gone into effect as of midnight Tuesday, March 4.

Some supermarket staples are expected to cost more with tariffs now in effect. Experts say gas prices could rise 40 cents or more per gallon.

Some supermarket staples are expected to cost more with tariffs now in effect. Experts say gas prices could rise 40 cents or more 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 20 percent. 

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 40-cent or more increase in a gallon of gasoline and also cause a rise in grocery bills.

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

The US imports about $45 billion worth of agricultural products from Mexico and another $40 billion against Canada annually, according to the US Department of Agriculture.

Expect price increases for these other products, including to automobiles, auto parts, and fuel:

  • Clothes (from China)
  • Laptops and tablets (from China)
  • Smart phones (from China)
  • Houses built from lumber (from Canada)
  • Maple syrup (from Canada)
  • Cherry tomatoes (from Mexico)
  • Avocados (from Mexico)
  • Beer (from Mexico)
  • Tequila (from Mexico)

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