Canada, Mexico tariffs create ‘ripple effects’ on consumer prices, economist says

Key Points

President Donald Trump imposed a 25% tariff on imports from Canada and Mexico on Tuesday. He put a lower 10% tariff on Canadian energy, and another 10% levy on China.
Canada and Mexico are the largest trading partners of the United States.
Businesses are expected to raise prices for consumer goods as a result. Those effects are likely to be felt broadly across the economy.

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