Michael Race, a business reporter for BBC News, reports that US President Donald Trump has implemented a range of tariffs on imports from countries like Canada, Mexico, and China, which could lead to higher prices for American consumers. Examples of goods that could become more expensive include cars, beer and other alcoholic beverages, housing materials, and avocados. Trump’s tariffs on steel and aluminum, effective from June 1 and March 23 respectively, mark a shift in US trade policy, with many of these tariffs removed at the end of 2020. Economists have expressed concerns that these import taxes, along with retaliatory measures from other countries, could increase costs for consumers as companies may raise their prices or reduce the number of imported goods available. Furthermore, the industry bodies and government agencies in the US, Canada, and Mexico have shown deep concern over the imposition of these tariffs, arguing that certain products like whiskey, tequila, and Canadian whiskey should be exempt due to their exclusive production in designated countries. The impacts on supply chains and trade practices across countries illustrate the far-reaching potential of these tariffs on both the economy and consumers.

Source: https://www.bbc.com/news/articles/cvgpvq20qmdo