The products that will suffer an increase in price with the 25% tariffs on Mexico and Canada
This Monday, during a signing ceremony in the Oval Office, President Donald Trump ratified the decision to impose a widespread 25% tariff on imports from its trading neighbors Mexico and Canada. Although the president stated that this would be established from day one of his mandate, The new rates will come into effect from February 1although Trump seeks to increase national production, this measure could weigh on the pockets of Americans. According to federal data, Last year more than 30% of imports came from these trading partnersTherefore, some sectors will be affected and Americans will have to foot part of the tariff bills as the possibility of an increase in goods is imminent. Of the products and services that will suffer an increase in price with the 25% tariffs on Mexico and Canada are: Food and alcoholic beverages Data from the United States Department of Agriculture indicates that during 2024 $46,000 million dollars in agricultural products will be imported from Mexico. It is expected that with the new tariffs the costs of Constellation Brands, which imports beers from the Modelo and Corona brands could increase by 16%. Automobiles and auto parts The automotive sector could also be affected, data from the Department of Commerce highlights that in 2024 alone, The import of vehicles and spare parts from Mexico reached a value of $87,000 and $64,000 million dollars respectivelyWith the increase in taxes, this sector will increase its prices in the coming months. Gas In the case of Canada, with the imposition of the new tariff rates, the cost of gas could increase. According to data from the United States Energy Information Administration, last year The country imported approximately $97 billion of oil and gas from Canada. Keep reading:
