Prices ‘highly likely’ to rise almost immediately, retailers say, after 25% duty hits exports from Mexico and Canada

Summary

Americans face price hikes after Trump imposed 25% tariffs on most Canadian and Mexican imports and doubled Chinese tariffs to 20%.

Retailers like Target and Best Buy expect higher costs for produce, electronics, and household goods. Canada retaliated with C$30bn ($20.7bn) in tariffs and may add C$125bn ($86.3bn) more. China plans 15% tariffs on U.S. farm products.

Stock markets fell sharply, with the S&P 500 down 1.9%.

Critics warn of inflation, job losses, and economic instability as the trade war escalates.

  • Lit@lemmy.world
    141·
    2 days ago

    Just like how he bankrupted his casinos, Krasnov Trump is doing a good job helping bankrupt USA for putin.

    If only there is a way to raise prices just for US consumers on my online digital products.

    • Ebby@lemmy.ssba.com
      5·
      2 days ago

      I just tilled my gardens for spring and dug up 2 avocado trees squirrels planted. I kept the other 2 I found last year and they’re about 6’ tall now. They grow like weeds here!

      Could have been rich in 20 years.