Donald Trump's 25% tariffs on Canada and Mexico: Here are the products that will cost you more
Will automobile prices increase because of Trump tariffs?
Meanwhile, C.J. Finn, US automotive sector leader for PwC, has reportedly said that such a massive percentage of import tariff in the Trump administration would most definitely cripple the automobile industry in the country, as significant vehicle supplies as well as auto spare parts are imported from these two countries, as a majority of production hubs are there. And with the major inflation in the automobile industry, things would most definitely spread to other sectors as well.
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Agriculture product prices can see a steep rise
Meanwhile, agricultural products and fresh produce would also see a major leap in prices in the US markets due to these import tariffs, with products like avocados, strawberries, tomatoes, beef and cheese may reportedly end up being much more expensive. Beef will be taking the most hit as the majority of the exports of this product to the US is from this country, which is worrisome as people's breakfast, dinner and lunch platters at restaurants are destined to grow expensive across US cities.
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