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These U.S. Exports Will Be Hit Hardest by Retaliatory Tariffs

These U.S. Exports Will Be Hit Hardest by Retaliatory Tariffs

When Trump originally announced tariffs on metals — a 25% tariff on imported steel and a 10% tariff on imported aluminum — back in March, he exempted U.S. allies like Canada, Mexico and and the European Union from being taxed on those exports until June 1.

Economists tell MONEY those tariffs, or a tax on an imported goods, implemented by Trump could increase costs for Americans on everyday items like cars and beer — because U.S. manufacturers are using overseas materials that will become more expensive under the new tariffs.

For example, if Canada slaps a 25% retaliatory tariff on American whiskey, that means anyone buying American whiskey in Canada has to pay an extra 25%.

could affect about $3.4 billion worth of essential U.S. exports including steel, bourbon, peanut butter and orange juice, according to the Associated Press.

You can see a full list of the hundreds of U.S. products that could face tariffs in Canada here.

Source: time.com
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