Search Results: fishing

Trump Treasury Secy Scott Bessent dismissed concerns from Dems saying that exporters from China would lower their prices due to higher US tariffs adding any tariffs should be phased in so that any “price adjustment” could be absorbed gradually.

Economists forecast roughly $1,300 increase for households on average as US factories rely on inputs from Mexico & Canada.

The auto & electric equipment sectors in Mexico are most exposed to disruption & mineral processing in Canada. The largest risks to USA would be to farming, fishing, metals and auto sectors.

Trump has stated the ability of tariffs to protect domestic manufacturers. But on balance, most economists expect fresh trade barriers to raise prices for US businesses and households, which will lead to a temporary burst of higher inflation. How temporary depends on Americans’ expectations about future increases in inflation

"We don’t need what they have,” Trump said. He added that "tariff rates could increase over time" and suggested that the "tariffs might not apply to oil imports", a decision that could avoid an all but certain spike in gas prices.

While the US is the world’s largest oil producer, Canada refines the lighter US crude with heavier oil from places like Canada to make fuels like gasoline & diesel which is then re-inported. Roughly 60% of the oil that the United States imports comes from Canada, & about 7% comes from Mexico. As such, that total is 35% of the US daily consumption.

If Canadian refineries respond to the tariffs by cutting production, gas prices in the Midwest could climb 15 to 20¢ a gallon & smaller increases outside the region.

At the northern border, the flow illegal migrants skyrocketed in 2024. During that time, more than 23,000 arrests were made of migrants crossing illegally — 2 years before it was around 2,000.

Hope it's all worth it MAGA!