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Trump tariffs on Canada, Mexico, and China expected to spike US auto and energy costs

Everything from automobiles to energy to the affordability of new homes will see cost increases now that President Donald Trump has imposed tariffs on Canada, Mexico and China. Trump imposed 25% tariffs on goods from Canada and Mexico and is also boosting existing tariffs on China by an additional 10%. Tariffs are a tax charged to the importer when a particular good crosses the border, but added costs are often passed down to consumers. According to information provided by the office of Sen. Maria Cantwell (D-WA), a 25% tariff on Canada and Mexico would add an estimated $144 billion a year to the cost of manufacturing in the United States. This is especially concerning to the auto industry. More than one in five cars and light trucks purchased in the U.S. were built in Mexico or Canada. Cars made in the United States are not subject to these new tariffs, but the auto industry has created supply chains that crisscross North America. -------------------------------------------------- For more on the lead story: https://komonews.com/news/local/trump... _______________ Stay up to date with our social media: KOMO News on Facebook:   / komonews   KOMO News on Twitter:   / komonews   KOMO News on Instagram:   / komo4   KOMO News on TikTok:   / komo4seattle   Subscribe to KOMO on YouTube:    / @komonews   Watch more top local news stories:    • Видео   For all of the day’s top local and national news, visit http://www.komonews.com/ Watch our live newscasts and other live video at https://komonews.com/watch Download our iOS App: https://itunes.apple.com/us/app/komo-... Download our Android App: https://play.google.com/store/apps/de... Have a news tip? Send it directly to us: Email us: [email protected] Call the Newsroom: 206.404.4000 KOMO News (ABC 4) provides the latest breaking news, sports, weather, traffic, and local event coverage in the Seattle and Western Washington/Puget Sound area including Bellevue, Redmond, Renton, Kent, Tacoma, Bellingham, Yakima, and surrounding communities. #komo #komonews #komo4 #komo4news #seattle #seattlenews #washingtonnews #trump #donaldtrump #trumptariffs #canada #mexico #groceries #trade #nafta #tariff #tariffs #tax #gop #republicans #democrats #dems Joel Moreno This video and all Sinclair Broadcast Group content archives of local news and sports coverage are available for your use. For more information contact us at [email protected]