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The Conversation
The Conversation
Bedassa Tadesse, Professor of Economics, University of Minnesota Duluth

A potential $110B economic hit: How Trump’s tariffs could mean rising costs for families, strain for states

Donald Trump Mexico Canada United States
A worker at a steel company in Monterrey, Nuevo Leon, Mexico, on Feb. 11, 2025. Julio Cesar Aguilar/AFP via Getty Images

Get ready to pay more for avocados, maple syrup and – well – almost everything.

The U.S. officially imposed new 25% tariffs on Canada and Mexico on March 4, 2025, following through on a long-delayed pledge from President Donald Trump. American consumers and businesses are now bracing for higher costs and potential supply disruptions.

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