US President Donald Trump has suspended trade tensions with Canada and Mexico, but economists warn that tariffs could lead to higher prices for American consumers. If the tariffs do go ahead, several goods could become more expensive.
Cars: A $3,000 price hike is expected due to increased taxes on imported car parts.
Beer: Mexican beers like Modelo and Corona might see price increases as companies pass on the cost of tariffs.
Houses: Tariffs on Canadian lumber could lead to higher home prices and reduced housing affordability.
Maple Syrup: The price of Canadian maple syrup, which accounts for 75% of global production, is likely to rise due to increased costs from Canada.
Fuel Prices: A shortage of “heavier” crude oil from Canada could lead to higher fuel prices if exports are reduced.
Avocados: Tariffs could cause the cost of avocados and popular dishes like guacamole to surge.
Source: https://www.bbc.com/news/articles/cvgpvq20qmdo