The Trump administration announced on Friday that tariffs will be added on goods coming from Mexico, Canada and China.
The Trump administration announced on Friday that tariffs will be added on goods coming from Mexico, Canada and China.
That means there would be a 10% tariff on goods coming from China, and a 25% tariff on goods coming from Mexico and Canada.
NBC Connecticut spoke with experts who say there's still a lot of uncertainty what this would look like on both a consumer scale and on an international relations scale.
“Trying to get food before the price goes up, honestly that’s why we came out tonight,” one Connecticut resident shopping in West Hartford said.
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"That worries me, but at the end of the day, only time will tell,” another shopper said.
The Trump administration said these countries are chosen because of a trade deficit and for reasons related to fentanyl.
"For the illegal fentanyl that they have sourced and allowed to distribute into our country which has killed tens of millions of Americans,” White House Press Secretary Karoline Leavitt said.
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Trump told reporters he's not looking for a concession from these countries.
In Canada, Prime Minister Justin Trudeau said the country is immediately ready to respond.
"We won't relent until tariffs are removed and, of course, everything is on the table,” Trudeau said.
As the clock ticks towards Feb. 1, Connecticut Restaurant Association's Scott Dolch said his members are asking questions to best prepare in the meantime.
"We're waiting to see exactly what the administration is going to announce tomorrow,” Dolch said.
"Where are you getting this product from? Are they from any of these three countries? How will that affect will affect your ordering or affect maybe your menu?" are some of the questions people are asking, he said.
Dolch said his members have already navigated twists and turns through COVID and a 30% increase in labor and food costs.
Quinnipiac University professor of international business Mohammed Elahee said the concern is that these tariffs are antagonizing U.S. allies and trade partners.
"It will have a global impact,” Elahee said.
In the short term, he predicts consumers will feel the trickle-down impact of higher prices first.
“In the long run, I think the whole economy will feel the pain. I cannot see any sector that will be exempt from the fallout of this across-the-board tariffs,” Elahee said.
The Connecticut Retailers Association also emphasizes how the industry always adapts well and encourages people to continue to shop local.