Economists Race to Assess Trump’s Tariff Plans

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President Donald Trump’s vow to unleash 25% tariffs on goods from Mexico and Canada has sent economists racing to estimate the impact on businesses and households across all three nations.

The potential fallout depends on the specifics of what Trump announces — the level of tariffs, the goods targeted or exempted and the duration they’re in place. It also depends on how Canada and Mexico respond.

Yet it’s already clear that if Trump does put new duties on the about $900 billion in goods from both nations, prices for everyday items from avocados and cars to energy are vulnerable to increases. Trump has also warned of imminent new tariffs on goods from China, meaning 42% of all U.S. imports could get hit with higher border taxes.

Here’s a snapshot of the early analysis ahead Trump’s Feb. 1 deadline:

Food Prices

Whether tariffs flow through to consumer pr…