WASHINGTON (AP) " President Donald Trump said Monday that 25% taxes on imports from Mexico and Canada would start Tuesday, sparking renewed fears of a North American trade war that already showed signs of pushing up inflation and hindering growth. "Tomorrow " tariffs 25% on Canada and 25% on Mexico. And that'll start," Trump told reporters in the Roosevelt Room. "They're going to have to have a tariff."
But companies ranging from Ford to Walmart have warned about the negative impact that tariffs could create for their businesses. Similarly, multiple analyses by the Peterson Institute for International Economics and the Yale University Budget Lab suggest that an average family could face price increases of more than $1,000.
Trump tells farmers to have fun with the tariffs. Maybe he'll toss them a bunch of paper towels too:
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