Trump tariffs in effect; what you will pay more for in New Jersey
The next wave of President Donald Trump's tariff plan is now in effect, adding an additional 25% levy on a wide range of imported products from Canada and Mexico.
Here's how the next wave of Trump's tariff's will impact your buying power in New Jersey.
Which products from Canada, Mexico are on the tariff list?
Donald Trump's 25% tariff will increase your prices for a wide range everyday items imported from Canada and Mexico.
Trump's tariff plan will also impact imported foods from two of America's largest trading partners.
America is Mexico's largest importer of fruits, nuts and vegetables, so prices of snacks and pantry staples are likely to rise.
Are there tariffs on new cars?
Yes. President Donald Trump’s 25% tariff on imported vehicles from Canada and Mexico could significantly increase car prices, with some experts warning it could also disrupt supply chains.
For example, if you planned to spend $29,400 on a new car, the cost could rise to $36,750.
Though Trump says tariffs are meant to encourage more U.S.-made products, automakers could take years to shift production to the United States.
Will Trump tariffs raise cosmetics, drug prices?
President Donald Trump's tariff plan also targets cosmetics and pharmaceutical imports from Canada and Mexico, which means you may winding up paying considerably more for everything from daily makeup kits to essential, life-saving drugs.
Have Canada, Mexico responded to Trump's tariffs?
Mexico's President Claudia Sheinbaum blasted Trump's tariff plan and vowed retaliation, and Canadian Prime Minister Justin Trudeau released a statement in which he promised the Canadian government would respond by implementing tariffs of its own on American products.
"Canada will not let this unjustified decision go unanswered. Should American tariffs come into effect, Canada will respond with 25% tariffs against $155 billion of American goods – starting with tariffs on $30 billion worth of goods immediately, and tariffs on the remaining $125 billion on American products in 21 days’ time," read a portion of Trudeau's statement. "Because of the tariffs imposed by the United States, Americans will pay more for groceries, gas, and cars, and potentially lose thousands of jobs.
"Tariffs will disrupt an incredibly successful trading relationship."
Damon C. Williams is a Philadelphia-based journalist reporting on trending topics across the Mid-Atlantic Region.