Voters for President-elect Donald Trump may be in for some “bad news” if they thought costs would be lower under his administration.
Trump threatened to impose new tariffs on Mexico, Canada and China on his first day in office as part of an effort to curtail illegal immigration and drugs. He said there would be a 25% tariff on goods entering the country from Mexico and Canada and an additional 10% tariff on goods coming in from China.
Economic experts have warned for months that tariffs would likely only hurt U.S. consumers by driving up prices. But Trump has remained adamant on imposing tariffs despite repeated warnings from economists.
On Monday, economic expert Catherine Rampell issues a stark warning about the proposed tariffs on CNN’s“NewsNight.”
“I mean, it is not unexpected in a sense it may be unexpected to Americans who thought Trump was going to lower their prices. Because if you voted for Trump because you thought he was going to bring grocery prices down, I have some very bad news for you,” Rampell said.
Rampell: If you voted for Trump because you thought he was going to bring grocery prices down, I have some very bad news for you. A lot of our produce comes from Mexico. Two thirds of the tomatoes that Americans purchase are from Mexico… pic.twitter.com/a8HSM1M0Xv
— Acyn (@Acyn) November 26, 2024