Consumers are in the firing line for the double-digit tariffs on China, Mexico and Canada. Prices won’t necessarily go up exactly in line with the tariffs. Companies can absorb some of the increase by lowering their profit margins or finding cheaper substitutes. But there will be upward pressure on prices. Here are some items likely to be affected:
🥑 More than 80% of avocados are imported from Mexico.
🥞 More than 60% of maple syrup is from Canada.
🚘 Last year, roughly half the 16 million light vehicles sold in the U.S. were imported, many of them from Canada and Mexico. Tariffs could increase prices for new vehicles by thousands of dollars.
🪵 A quarter of lumber used in the U.S. comes from Canada. Prices are at 30-month highs.
📱 Smartphones almost all come from China.
🛢️ The U.S. Midwest region imports around 3 million barrels of oil a day from Canada.
🥛The region also relies heavily on Canada for polyethylene, a plastic used in products such as plastic film and milk jugs.
Lumber Continuous Contract – LBR00 (CME) – $662.50 USD5.500.84%
Crude Oil – WTI Continuous Contract – WBS00 (IFEU) – $67.23 USD0.030.04%
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