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Here's what could get more expensive under Trump's tariffs

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President Donald Trump's threatened tariffs against Mexico, Canada and China went into effect Saturday evening, slapping a 25% wholesale tariff on both Mexico and Canada at once.
The article from MSN discusses the potential economic impacts of former President Donald Trump's proposed tariffs if he were to return to office. Trump has suggested implementing a 10% tariff on all imports, which could significantly increase the cost of various goods for American consumers. This policy aims to protect domestic industries but could lead to higher prices for everyday items like electronics, clothing, and automobiles. Specifically, the article mentions that tariffs could raise the price of cars, especially those imported from countries like China, Japan, and Germany. Additionally, consumer goods such as toys, furniture, and appliances might see price hikes. The article also notes that while these tariffs might boost some U.S. manufacturing sectors, they could provoke retaliatory tariffs from other countries, potentially harming U.S. exporters and increasing costs for American businesses that rely on imported materials. Critics argue that this could lead to inflation and a decrease in consumer purchasing power, while supporters believe it would encourage domestic production and reduce reliance on foreign goods.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/politics/government/here-s-what-could-get-more-expensive-under-trump-s-tariffs/ar-AA1yfKPN ]