#1 Maple Syrup
#2 Avocados
#3 Crude Oil And Gasoline
After the introduction of tariffs on companies from Canada, Mexico and China, the US presidential administration specifically stated that all this will be paid for by companies from these countries, and not ordinary Americans. It certainly sounds encouraging - but in practice, the burden of such tariffs is usually distributed between producers from another country, the local importer - and the end consumer, for whom the price inevitably increases.
#4 Cherry Tomatoes
#5 Tequila
#6 Steel And Construction Materials
One of Donald Trump's idols in his second presidential term is William McKinley, the 25th President of the United States, who actively introduced tariffs on foreign goods, and indeed did a great service to American industry. However, McKinley lived at the turn of the 19th and 20th centuries, when the economy of both the United States and the world was structured... well, let's say, a little differently.
For example, almost everything that was consumed in the United States was produced domestically. Thus, back then, at the beginning of the 20th century, the introduction of the so-called "protectionist" economic policy was entirely justified from the point of view of the growth of the American economy. But now it's 2025, not 1901, and the world economy does not work that way.
#7 Smartphones
#8 Beer
#9 Cars And Auto Parts
Many of the factories that make critical parts — like the engines for Ford F-series pickups and the legendary Mustang sports coupe — are located in Canada. As a result, in 2023, $20B in auto parts came from Canada, and another $78B came from Mexico.
In modern economies, countries often specialize in the production of a particular product, and import everything else from other countries simply because it's more economically profitable than producing it at home. For example, if an American car company has the opportunity to import some spare parts from other countries, where their production will simply be cheaper - they will do so.
If there is an opportunity to move production to a country with cheaper labor, more favorable taxes and, let's be cynical but honest - lesser requirements for the environmental friendliness of production - the company will do so, simply because it will be more profitable. And profit has always been the main motive for economic development.
#10 Electronics And Home Appliances
#11 Tonka Trucks
As a result, a modern American car factory assembles American cars from parts made in Mexico, Canada and Latin America, on machines brought from China or Europe, and then fills them with gasoline that American refineries recently produced from Canadian crude oil. Quoting Childish Gambino, "this is America!"
Of course, American companies can, to their own detriment and their economic interests, start building factories in their homeland. But this will take time, a lot of time - and the prices for the final products will be significantly higher than with the classic, global distribution of labor. And when prices rise, and rise steadily and for a long time - this, it must be said, is nothing but inflation.
#12 Ledgehammers
According to trade experts, tariffs can significantly "spur" inflation in the United States - for example, they can cost American consumers an average of $835 per person. And, of course, the main burden will fall on low-income consumers and households.
Many imported goods simply do not have American alternatives. Of course, over time, these alternatives can be created - but do ordinary Americans actually have this time?