Some companies are starting to be ready for a price increase that customers will probably notice as well as the tariffs become more serious.
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President Donald Trump said he is moving forward with his tariffs on imports from Mexico, Canada and China.
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The tariffs expected to take place on Saturday are: 25% for Mexico and Canada and 10% for China.
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Owners of Mario Bros Tacos say their suppliers have already warned them of prices, in some cases, more than doubling.
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President Donald Trump said he is moving forward with his tariffs on imports from Mexico, Canada and China.
-
The tariffs expected to take place on Saturday are: 25% for Mexico and Canada and 10% for China.
-
Owners of Mario Bros Tacos say their suppliers have already warned them of prices, in some cases, more than doubling.
DallasAs early as Saturday, President Donald Trump is implementing his plan to impose tariffs on goods coming from China, Canada, and Mexico.
As it gets closer to reality, some companies are starting to be ready for a potential price increase that customers will probably see as well.
We know:
On Friday, President Trump said that he would begin imposing tariffs on imports from China, Canada, and Mexico on Saturday.
It’s something we’re doing and may or may not significantly boost it. “We’ll observe the situation,” he stated. However, a significant amount of money is entering the US.
The levies are intended to lessen trade deficits, according to the Trump administration.
Highlighted
10 things that could cost more under new tariffs
In addition to new tariffs on China, a 25% duty on imports from Canada and Mexico could raise the cost of everything from groceries and gas to vehicles and cellphones.
According to White House Press Secretary Karoline Leavitt, the plan calls for 10% taxes on Chinese goods and 25% duties on imports from Canada and Mexico.
In the past, the president used tariff threats to compel cooperation in efforts to combat illegal immigration and fentanyl smuggling.
Fruits and auto parts are among the products that are impacted.
Local viewpoint:
Locally, Mario Bros Tacos, located off Abrams Road in Dallas, is owned by Mario Moya Sr. and Mario Moya Jr.
The family firm is already dealing with post-pandemic inflation, and the tariff price increases could be a further blow.
According to Moya Jr., their suppliers have already issued a warning.
“We used to pay $30 to $35 for a case of avocados, but today it may cost up to $80. $20 in incoming limes. It will now cost more than $60.
For ten years, the Moyas have made their living from the Lake Highlands restaurant. Price increases are their final option, but they must take this into account.
Moya Jr. stated, “We want to hold out as much as we can,” “At some point, it s a business you are running, you know?”
Highlighted
US tariffs on Canada and Mexico begin Saturday what it means for gas prices
Despite his promise to reduce energy costs, President Donald Trump has not yet determined whether to include oil imports in his 25% tariffs on Canada and Mexico, which go into effect on Saturday. This could have an impact on gas prices.
Overview:
Mike Davis, an economist at SMU, claims that the tariffs encourage retaliation.
“All of a sudden, we put tariffs on Canadian auto parts; it s going to be more expensive for an American car company to build a car,” he stated. “If these tariffs get applied, and they stick, it will have a big effect on what we all pay for all types of things.”
Next steps:
Justin Trudeau, the prime minister of Canada, stated on X that while they are making every effort to stop the tariffs, “Canada is ready with a forceful and immediate response” if the United States proceeds.
The president adds that further duties on steel, medications, and computer chips may be conceivable.
The White House press secretary, local interviews, and national news coverage are the sources of the information in this article.
