Here are the goods that might cost you more under the president's new tariffs
President Donald Trump's new tariffs on Canada, Mexico, and China started on Tuesday. Here are the goods imported most.
Getty Images; Chelsea Jia Feng/BI
- After a monthlong delay, Trump added new tariffs on Canada and Mexico on Tuesday.
- Trump added to existing China tariffs, too.
- Here are the goods imported into the US the most from these three countries.
When evaluating how President Donald Trump's new tariffs on Canada, China, and Mexico could impact Americans, start by looking at the goods imported most from those countries.
The biggest categories are oil, electronics, and vehicles.
After a temporary delay in February, the 25% tariffs went into effect on Tuesday through an executive order. There's one big exception: Energy imports from Canada have a 10% tariff.
The president also doubled China tariffs to 20% as he continues to push for stronger drug policies, particularly to stop the flow of fentanyl into the US.
The White House's fact sheet on the latest tariffs said that Trump will use emergency economic powers to implement these tariffs in an effort to crack down on drug trafficking. Both Canada and China announced retaliatory tariffs on the US, and Mexico's president said she would announce the country's next step on tariffs on Sunday.
The proposed tariffs could affect a wide variety of goods Americans use daily. The Census Bureau reported that in 2024, the US imported over $1.3 trillion in goods from China, Mexico, and Canada combined.
From Canada, the top 2024 imports included over $98 billion worth of crude oil and about $28 billion in passenger cars.
The US imported nearly $67 billion worth of car parts from Mexico in 2024, along with $43 billion in computers, $14 billion in medicinal equipment, and $12 billion in crude oil.
China, meanwhile, is a major supplier of electronics to the US. The census data showed that in 2024, the US imported $64 billion in cell phones and other household goods from China, $34 billion in computers, and about $31 billion in games, toys, and sporting goods.
Some companies have already been preparing to increase prices as a result of Trump's tariff plans on the campaign trail. Real estate consultants previously told BI that Trump's trade plans, particularly his 25% tariffs on steel, are set to make rent and condo prices more expensive.
Target CEO Brian Cornell also told CNBC on Tuesday that the tariffs could lead the company to raise prices on fruits and vegetables.
"Those are categories where we'll try to protect pricing, but the consumer will likely see price increases over the next couple of days," Cornell said, adding: "If there's a 25% tariff, those prices will go up."
Additionally, Trump's plans could amplify economic strains between the US and its trading partners. China said on Tuesday that it would impose additional tariffs of 10% to 15% on some US imports starting March 10.
Trudeau said in a Monday statement that Americans will feel the pain from Trump's tariffs: "Because of the tariffs imposed by the U.S., Americans will pay more for groceries, gas, and cars, and potentially lose thousands of jobs."
Companies and economists have said that Trump's tariff plans would increase consumer prices. BI previously reported that Trump's broad tariff proposals were likely to increase prices across the board, from clothes and footwear to computers and video games.
Trump has previously denied that would be the case. "I am going to put tariffs on other countries coming into our country, and that has nothing to do with taxes to us. That is a tax on another country," Trump said in an August speech. However, he told reporters in early February that Americans will experience "some pain" as a result of the tariffs, but he said they will overall be beneficial for the country.
The tariffs implemented during Trump's first term did not significantly influence inflation, but his recently announced tariffs are broader and could have a larger impact on prices.