New York Post
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How Trump’s tariffs on Canada and Mexico actually work — and how grocery prices will be impacted
Posted
March 4, 2025
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4:33Now PlayingHow do tariffs actually work? President Trump has imposed stiff 25% tariffs on imports from Mexico and Canada, with the hopes of halting the flow of fentanyl into the US. Tariffs are taxes imposed on goods from foreign companies, which then generate revenue for the country, while also encouraging domestic business. However, food industry experts predict Trump's new tariffs will raise grocery prices for American consumers on everything from beer to seasonal produce, such as strawberries, bananas and avocados. Canadian Prime Minister Justin Trudeau called the move "a very dumb thing to do" and Mexican President Claudia Sheinbaum said, "Nobody wins with this decision." Find out more in this explainer from The Post.
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