You could also be impacted by the tariffs Trump may have put on others
Trump Trump isn’t Trump: Trade War with the United States Becomes the Norm in Trump’s Preterm Presidency
Europe, Japan and South Korea weren’t even mentioned in Trump’s announcement, but stocks have fallen there, too. That suggests rising fears that there could be a trade war.
On Truth Social he said that he wanted to impose 25% tariffs on all products entering the United States from Canada and Mexico. The 10 percent tariffs on China are something Trump wants, which the Chinese government has always denied.
Today’s losses have reversed some of yesterday’s “Bessent bounce” rally. The investors were relieved after Trump selected Scott Bessent to run the Treasury Department.
But the reverberations show that it’s Trump calling the shots. The president-elect has made no secret of his desire to use tariffs to further his America-first agenda, and he has yet to announce his pick to be U.S. Trade Representative. Robert Lighthizer is a supporter of the tariffs.
Trump’s latest threats may be just a negotiating tactic. Bill Ackman is the billionaire financier who supports Donald Trump. But they are a reminder of how Trump set off alarm bells across diplomatic channels and international markets during his first term often via social media posts. According to a note written this morning, “Waking up to check the tweet for any policy announcement could become the norm.”
Trump’s tariffs threaten to hurt you too: A high profile example of the US auto sector and a key ingredient in Mexican-American cuisine
The US auto industry has grown under the North American Free TradeAgreement and the successor treaty that Trump signed in 2020.
“I don’t think people quite grasp just how integrated the North American supply chain is,” says Scott Lincicome, a trade expert a the libertarian CATO Institute.
“You would see an immediate spike [in prices] at the grocery store. Some restaurants would change their menu to reduce the amount of produce in their dishes, or raise their prices.
In just one high-profile example, the tariffs would raise the price of avocados less than three weeks before the Super Bowl — one of the biggest guacamole-eating days of the year.
In the produce department, shoppers would see higher prices since 32% of the fresh fruit and 34% of the fresh vegetables come from Mexico and Canada.
“One of President-elect Trump’s signature pledges during the campaign was to tamp down inflation and to reduce prices at the grocery store,” says Lance Jungmeyer, president of the Fresh Produce Association of the Americas, an importers trade group.
Canadian Prime Minister Justin Trudeau says he’s already spoken to Trump by telephone. Mexico’s President Claudia Sheinbaum sent a letter to the president-elect. Both foreign leaders have called for cooperation and dialogue.
Source: Trump’s tariffs may be targeted at others — but they could impact you too
Implications of a 25% border tariff on seamless trade in U.S. production of high-priced products, including a car seat
“These days, it is possible to get certain automotive parts, like a car seat, to travel between international borders five or six times,” he says. “That type of seamless trade would be utterly jeopardized by a 25% tariff, thus harming a lot of American manufacturers and manufacturing workers.”
