Trump's tariffs could raise the prices of these everyday goods

[BumRushDaShow]

Source: Axios

12 hours ago


President-elect Trump made instituting sweeping tariffs one of the cornerstone pledges of his 2024 campaign, a move experts warn could lead to price hikes for many everyday goods.

Why it matters: Voters' frustration with the economy pushed many to support Trump, but experts warn levying tariffs could reignite inflation and even spark a trade war.

Driving the news: In social media posts Monday, Trump announced a tranche of new tariffs on the U.S.' top three trading partners — Canada, Mexico and China.

Trump said that on his first day in office he would sign "all necessary documents" to charge a 25% tariff on all goods coming from Canada and Mexico.

He also added that imports from China be levied a 10% tariff "above any additional Tariffs."

Between the lines: On the campaign trail, Trump had floated proposals to impose 10% or 20% tariffs on all imports, as well as a 60% tariff on all Chinese imports.

Ed Brzytwa, the Vice President of International Trade at the Consumer Technology Association, told Axios Tuesday that the situation remains "unpredictable," and while the tariff on China is lower than anticipated, more tariffs could be announced down the line.

"We're still anticipating that he wants to follow through on 60%," if not higher, Brzytwa said.

The big picture: Because of the integration of the North American market, tariffs on Mexican and Canadian imports could lead to "massive supply chain disruptions," according to Brzytwa.

He called it "a recipe for disaster for the North American economy" and U.S. consumers.

The National Retail Federation warned in a statement Tuesday that "lower prices and increased tariffs are mutually exclusive. It's one or the other; not both."

"Blanket and indiscriminate tariffs on a limitless range of consumer goods will be inflationary and hurt American families and workers," the NRF added.

Read more: https://www.axios.com/2024/11/30/trump-tariffs-raise-prices-goods

[Magoo48]

1. One of our most powerful forms of resistance will be

to refrain from buying everything except those items which are absolutely necessary for four years. Sadly, just like with Climate Catastrophe, first world people will not be inconvenienced even if their lives depend upon it.

[ck4829]

2. And when you do buy - buy the goods affected by tariffs, not goods exempt from them

[we can do it]

3. Also keep in mind which companies support Rs.

[Bengus81]

5. That asshat kills off social security and Medicare there will be no worries of 67M people spending needlessly...

Hell,most people will be choosing between food or paying the utility bills. Seniors that can no longer afford to stay in their home will flood the market with homes driving prices down as millionaires and billionaires rush in to buy them at fire sales prices to rent them.

This could easily be the Great Depression V2.0

[TexLaProgressive]

10. Without SS and Medicare

The funeral business will be overwhelmed.

[Timeflyer]

4. What's going to happen to all those MAGA-loving, climate change scoffers, science deniers when

their air conditioners die, the nighttime temps are above 100 degrees, and replacing that AC costs $20,000 because of tariffs. (They'll find a way to blame Dems and liberals, of course.)

[we can do it]

6. Oh well!

[ancianita]

7. Interesting that Axios just says imports are "these everyday goods" without a reasonably expected list of the goods.

Axios doesn't even list broad categories such as "clothes, toys, electronics." And most Axios readers, nevermind people in general, don't know what or how much food we import from Mexico & Canada, either.

[BumRushDaShow]

9. If you click on the link to the article

and scroll down, there is a part that sections off "MEXICO", "CANADA", "CHINA" and gives examples of products (and percentages) that we import from those countries.

(I obviously can't copy/paste the entire thing in the OP )

[ancianita]

11. Yeah, got it. Since you covered their usual format, I thought you'd covered the whole thing. Thanks.

[BumRushDaShow]

12. That's one of their rare "long" articles

[ancianita]

13. Very rare.

[GiqueCee]

8. There is no "COULD" about it...

... tariffs absolutely WILL raise prices on essential goods. And you can bet that corporatists will jack up prices far above and beyond the costs the tariffs impose. And consumers will take a drop kick to the groin AND the wallet. The wealthy who will benefit from the extortionate price hikes piled on top of the tariffs couldn't care less about the financial strain imposed on middle class families, and especially on the working poor already living from paycheck to paycheck.
Remember, all this is in service to the "obligation" Trump has been publicly reminded that he owes to Putin. And EVERY Republican is complicit in this obscene treachery. Even the dumb-asses that are about to find out the hard way how stupid they were to ever vote for Trump.