The President of the United States, Donald Trump, has imposed tariffs on imports from Mexico, Canada, and China, initiating a trade war that will significantly impact the prices of various products and sectors. These measures have led these countries to announce reprisals, which could lead to an even greater increase in prices.
One of the sectors directly affected by the new tariffs is the energy sector from Canada, with a tariff of 10%. Trump has decided that oil, natural gas, and electricity imported from Canada will have this tariff, instead of 25%, seeking to mitigate the impact on regions like the Northeast and Midwest of the United States, which rely heavily on Canadian energy.
On the other hand, the automotive sector will be one of the most harmed, as automotive companies have built supply chains in the United States, Mexico, and Canada, with components crossing borders multiple times before a vehicle is assembled. This could raise the price of some models by up to $12,200 for American consumers.
The tariffs on China will impact products such as clothing, toys, computers, and mobile phones, as many of the components used to manufacture them come from this country. For example, the United States imported more than $32 billion in toys from China last year. Additionally, the tariffs could raise the cost of purchasing alcoholic beverages from Mexico and Canadian liquors for American consumers.
Consequently, these tariffs will affect not only Americans but also consumers in Mexico, Canada, and China. It is expected that American households will pay about $1,200 more per year due to these tariffs, according to a study by the Peterson Institute. Imports from Mexico and Canada will have a tariff of 25%, while imports from China will be subject to a tax of 10%, with a total tariff rate of 20%.
