Trump's threatened tariffs might be more of a negotiating tactic than a set-in-stone policy, but the outcome is sure to have huge impacts on Americans.
FILE - Cars and trucks line up to enter the U.S. from Mexico at a border crossing in El Paso, Texas, March 29, 2019. might be more of a political negotiating tactic than a set-in-stone policy, but the outcome is sure to have huge impacts on American consumers.
The U.S. runs a trade deficit with Canada and Mexico, so Knightley said our neighbors theoretically would lose more in a trade war.A tariff is something that is paid for by the importing company, which then must either absorb the extra cost or pass it along to consumers., and 20% to imports from all other countries would add up to nearly $800 billion in extra costs for American importers that might then be passed onto customers, according to Knightley.
But slapping a 25% tariff on everything crossing the border would be a big change for American consumers and businesses. Businesses have organized around the expectation of free trade and heavily integrated supply chains among all three countries, Grabow said.
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