February 2, 2025
What goods and services could be affected by the tariffs?
The Trump tariffs could impact the prices of many goods in the US, including groceries, gas and other consumer items.
Mexico and Canada are both among the US’ top suppliers of fruit, vegetables, and other food items, according to the US Department of Agriculture.
Between 2017 and 2021, Mexico supplied the US with 31% of imported horticultural products including fruit, vegetables and alcoholic beverages, the department said.
Meanwhile, US Energy Information Administration statistics suggest that Canada accounts for over half the US’s imported crude oil.
The US reliance on Canadian crude oil has nearly doubled in the last decade, jumping from 33% in 2013 to 60% in 2023, the administration says.
Trump’s tariffs are exceptionally lower on Canadian oil imports, coming in at 10% against the 25% tariff he has imposed on other Canadian imports.
Automobiles and auto parts are also among the major imports from Canada and Mexico. Many car and electronics giants have manufacturing plants in Mexico, including Honda, Samsung and LG.
US imports from China, meanwhile, include textile products, furniture, bedding, lamps, toys, games, sports equipment and paint, according to 2021 figures from the US Department of Commerce.
Trump had imposed tariffs on China in his first term, in a move which forced many companies in trade with the US to relocate to Canada and Mexico to evade them. These companies are now bracing for the new wave of tariffs.
The National Retail Federation (NRF), which represents the largest retailers in the US, told Reuters news agency the White House should explore other ways to achieve its policy goals.
“As long as these universal tariffs are in place, Americans will be forced to pay higher prices on everyday consumer goods,” said David French, NRF executive vice president of government relations.
