Computers, televisions and cell phones, fresh fruit, tequila and cars are just some of the things expected to become more expensive in the US after the implementation of tariffs announced by Donald Trump on imports of products from China, Canada and Mexico.
Currently, Chinese products are subject to tariffs of 100% for electric vehicles and 25% for steel and aluminum products.
However, consumer electronics are among those that have been exempted.
However, if Trump proceeds to impose general 10% tariffs on Chinese products, this will no longer apply, according to CNNi.
Similarly, Mexico and Canada largely avoid tariffs on exports to the United States due to the current USMCA trade agreement signed by Trump during his first term.
This is expected to change, starting February 1st with the threat of 25% tariffs on Mexican and Canadian products.
Products from China
Communications equipment accounted for 12%, or $47 billion, of the $401 billion worth of goods the U.S. imported from China last year, excluding December, making it the top category of goods the U.S. imported from China.
Communications equipment includes everything from mobile phones to televisions and satellites.
At $39 billion, the second largest category of goods the US imported from China last year was computer equipment.
This includes tablets, laptops, monitors, and essentially all the components that power them, such as semiconductor chips and network interface cards.
Next is the $37 billion category of goods considered "miscellaneous manufactured goods" that the US imported from China last year.
Toys, jewelry, silverware, and sports equipment are among the goods included in this umbrella category.
Products from Canada and Mexico
Mexico and Canada are two of America's three largest trading partners. Combined, they accounted for 30% of the value of all goods imported into the United States last year, according to federal trade data, CNNi reports.
Cars and spare parts
The United States imported $87 billion worth of motor vehicles and $64 billion worth of vehicle parts from Mexico last year, not counting December.
Motor vehicles were also the second-largest good the U.S. imported from Canada last year through November, worth a total of $34 billion.
Fuel
The US imported $97 billion worth of oil and natural gas from Canada last year, making it the country's top export to the US.
The US has become more dependent on Canadian oil after the expansion of the Canadian Trans Mountain Pipeline.
When Trump initially imposed the 25% tariffs in November, Patrick De Haan, head of oil analysis at GasBuddy, estimated it would raise the cost of gasoline for Americans by 25 cents to 75 cents per gallon.
Food and alcoholic beverages
In 2024, the U.S. imported $46 billion worth of agricultural products from Mexico. This includes $8,3 billion worth of fresh vegetables, $5,9 billion worth of beer, and $5 billion worth of distilled spirits.
Constellation Brands, which imports Modelo and Corona beers as well as Casa Noble tequila from Mexico, could see its costs jump 16% under Trump's proposed tariff and would likely have to raise prices by about 4,5%, said Chris Carey, an equity analyst at Wells Fargo.
But the largest category of agricultural imports from Mexico last year was fresh fruit, of which the U.S. imported $9 billion, with avocados accounting for $3,1 billion of that total.
All of these products will now cost consumers more.
Source: cnn.gr
