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Six things that could get more expensive for Americans under Trump tariffs​

2 hours ago
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Michael Race
Business reporter, BBC News
Getty Images A woman with dark brown hair, wearing a green coat, shopping in a construction store. She is reaching up at a shelve which contains boxes.
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US President Donald Trump has sparked a trade war by declaring he will impose tariffs on imports from his country's neighbours Canada and Mexico.

Canada has said it will retaliate in kind. Mexico also pledged to hit back, although US tariffs on that country have now been paused for a month.

The three countries have deeply integrated economies and supply chains, with an estimated $2bn (£1.6bn) worth of manufactured goods crossing the borders daily.

Trump says he wants to protect American industry, but many economists warn the taxes, which are still due to come into force on Canadian imports on Tuesday, could lead to prices rising for consumers in the US.

That's because tariffs are paid by the domestic company importing the goods, who may choose to pass the cost on to customers directly, or to reduce imports, which would mean fewer products available.

So what could get more expensive if Trump's tariff threats go ahead?
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Cars​

Cars are likely to go up in price - by about $3,000 according to TD Economics.

That's because parts cross the US, Canadian and Mexican borders multiple times before a vehicle is assembled.

As a result of higher taxes paid on the importing of parts to build the cars, it is likely the costs will be passed on to customers.

"Suffice it to say that disrupting these trends through tariffs... would come with significant costs," said Andrew Foran, an economist at TD Economics.

He added "uninterrupted free trade" in the car-making sector had "existed for decades", which had led to lower prices for consumers.
 
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