How Trump’s Tariffs Will Cost New Yorkers More

President Trump has announced that tariffs on Canada and Mexico will begin today. The tariffs, which add a 25% fee on Canadian and Mexican imports, will increase prices on gas, groceries, cars, alcohol, home goods, and construction materials. Experts warn that these price hikes could cost the average household over $1,200 per year, making everyday living even more expensive in an already costly state.

Trump’s Tariffs on Canada and Mexico: What Will Cost More in New York?

1. Gas Prices Will Go Up

New York drivers are already dealing with high fuel costs, and this tariff will make things worse. Trump originally proposed a 10% tariff on Canadian oil, which equates to about 16 cents per gallon. This will also lead to higher delivery costs, making everything from Amazon orders to restaurant food deliveries more expensive.

2. Grocery Bills Are About to Soar

New York imports huge amounts of fresh produce, meat, and dairy from Canada and Mexico. With new tariffs, expect higher prices on:

• Avocados, tropical fruit, tomatoes, lettuce, cabbage and onions (Mexico supplies 90% of U.S. avocados)
• Beef, pork, and chicken (34% of U.S. meat comes from Canada)
• Dairy, eggs, honey, fruit juice, cereal, coffee and tea
• Baked goods, sauces, and seasonings

3. Beer and Liquor Prices Are Going Up

Love Corona, Modelo, or tequila? Get ready to pay more. Mexico is the largest beer exporter to the U.S., supplying 18% of all beer sold in America. That means higher prices at bars, liquor stores, and restaurants across the state.

Read More: What No More Pennies Could Mean For New York

4. Buying a New Car Will Cost More

Trump’s tariffs target auto parts and steel from Canada and Mexico. This will increase the cost of new and used cars, as well as repairs. New Yorkers looking to lease or buy a car should expect to pay hundreds, if not thousands, more.

5. Housing and Construction Costs Will Rise

Thinking of buying a home or renovating? Tariffs on Canadian lumber will make housing even more expensive. One-third of all softwood lumber in the U.S. comes from Canada, and the price hike will make building homes and renovations even more costly in an already overpriced market.

6. Electronics and Home Goods Will Be Affected

Many household items will see price hikes due to tariffs, including:

• Computers, TVs, and smartphones
• Furniture and home decor
• Printed books and paper products

How Much More Will The Tariffs Cost You?

• The average U.S. household could pay an extra $1,200 per year.
• The lowest-income households will see their after-tax income drop by $170, while wealthier families could lose up to $3,280 due to increased costs.
• These tariffs could drive up consumer prices by up to 1.63%

Read More: New Yorkers, Your $2 Bill Could Be a Jackpot!

What Happens Next?

With Canada and Mexico expected to retaliate, prices could continue to climb in the coming months. New Yorkers will feel the pinch at the pump, the grocery store, the car dealership, and even when shopping for home goods.