In a high-stakes trade war initiated by U.S. President Donald Trump less than two weeks into his second term, the United States imposed 25% tariffs on all non-exempt imports from Canada, 10% for China, and nearly implemented a similar 25% tariff on Mexican imports before striking a last-minute deal with Mexican President Claudia Sheinbaum. Following the resolution with Mexico, and after a fierce Canadian counter-attack that threatened key GOP states like Kentucky, Trump spoke with Canadian Prime Minister Justin Trudeau to retract the new tariffs.
In both the cases of Mexico and Canada, the 25% tariffs are now on a 30-day delay, after which time they might be reimposed, partially revised or scrapped altogether, depending on how further negotiations unfold. In their current form, these tariffs are expected to cost the average U.S. household between $800-$1,200.00/year.
Watch the above video as Straight Arrow News contributor David Pakman reviews a short list of the goods and services Trump’s tariffs might impact, and what he says the consequences might be for the average American consumer.
The following is an excerpt from the above video:
On the other hand, almost certainly the cost of gasoline is going to go up. We import a bunch of oil from Canada, oil which we then refine into gasoline. With the new tariffs on Canadian energy, you can bet that gas prices are going to go up. Doesn’t sound like winning for the average consumer.
Let’s talk a little bit about eggs now. Why eggs? Because it’s been MAGA talking about them, I— you know, I eat five eggs a week, it’s not the most important thing to me. Even if that price is doubled, I don’t eat so many eggs that it really makes a difference. But for a lot of Americans, it does. And one of the things we’ve seen is that since Donald Trump took office, the price of eggs has hit a record high.
The USDA is predicting egg prices will be even more expensive later in 2025. Can you stockpile eggs? I don’t know exactly how long eggs last. I think in the fridge they last a while, not giving anybody specific advice, but it’s certainly something I would consider.
Avocados from Mexico. Can you freeze avocados? My research tells me, if you scoop out the flesh, you can, and put it in an airtight container, you can freeze it. Not necessarily recommending it. Don’t know how good it’s going to be, but it’s something you could do. Avocados from Mexico are going to get more expensive with the tariffs on Mexico.
If you’re looking to build a home or expand a home, in addition a renovation, we get five-sixths of our lumber from Canada. That is going to get more expensive. Who do you think will pay when the lumber gets more expensive for the construction company? You will pay. If you’re building a house or doing a renovation or an expansion, maybe you want to start dealing with those raw materials now, before prices go up.