These Products Will Rise In Price Due To Trump

2024 Author: Steven Freeman | [email protected]. Last modified: 2023-12-17 08:15

There is no doubt that some of the policies of the current President of the United States, Donald Trump, have been highly criticized since he took office in the White House.

His reproaches to trade agreements with countries like Mexico, China and Canada have been constant and he recently decided to increase the tax rates that products and raw materials that come from other parts of the world must pay.

According to a report shared by Money magazine on its online site, although Trump's efforts to establish higher tariff rates are intended to help the country, this at the same time would harm the citizen on foot, as certain products would have a notorious increase in their prices.

The report ensures that the costs of products such as household appliances, cars, cell phones, computers, solar panels and even beer would be highly affected by the new tariffs imposed by the current administration.

According to the publication, much of the increase in prices is due to tariffs that must now be paid for raw materials such as steel and aluminum. As indicated, in the past few months alone the cost of household appliances such as washing machines has risen by around 17%.

On the other hand, in the automotive sector, the prices of vehicles from firms such as Jaguar and Land Rover will be highly affected since they do not have production plants in the United States. But not only foreign companies will pay for the arcelesles in steel, giants like GM and Ford will also suffer consequences, since they import between 20% and 33% of their cars from Canada and Mexico.

According to Money, the increase in car prices will have an impact of up to $ 5,000 on those that are imported and around $ 1,300 on those that are produced in the United States.