"The direct impact might be fairly small," said Gary Hufbauer, senior fellow at the nonpartisan Peterson Institute for International Economics, referring to the price stability of gasoline.
"There's no state that will be impacted more" from tariffs on Mexico, warns Gov. Gavin Newsom, highlighting California's unique vulnerability given its consumer economy.
According to the UCLA Anderson winter forecast, "uncertainty with respect to the current forecast is elevated," due to potential Trump policies on tariffs and regulation affecting consumer prices.
"With a higher tariff, the import costs would rise and so would the price of gasoline, but not that much," states Sung Won Sohn from SS Economics, clarifying expected impacts.
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