President Trump's tariffs set to take effect will impose significant duties on imports from China, Mexico, and Canada, including a 25% tariff on Mexican and Canadian goods and a 10% tariff on Chinese products. Local businesses like Luz de Luna in San Francisco are worried about the potential impact on sales, as many of their products are imported luxury items. Economists warn that these tariffs essentially act as an extra tax on consumers, and discuss the importance of trade with these neighboring countries, which supply a variety of goods, from vehicles to fresh produce.
People have to first think about eating. So, this is something that worries me. Are they going to afford us?
It's like have an extra tax added to the goods that you and I and everyone else buys every day for things that are imported.
We are huge trading partners of Mexico and Canada. From Canada, we import lots of energy; we import lots of auto parts and some partially completed vehicles.
From Mexico, we import a lot of vehicles. Various auto manufacturers have set up plants in Mexico.
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