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Economics professor explains how prices could change as Mexico, Canada tariffs take effect

The article from MSN discusses the potential economic impacts of new tariffs between the U.S., Mexico, and Canada, as explained by an economics professor. The tariffs, which are part of ongoing trade disputes, could lead to higher prices for consumers in the U.S. due to increased costs of goods imported from Mexico and Canada. The professor highlights that these tariffs might not only affect direct imports but could also lead to retaliatory tariffs from Mexico and Canada, further complicating trade relations. This could result in a decrease in trade volume, supply chain disruptions, and ultimately, inflationary pressures as businesses pass on the increased costs to consumers. Additionally, the article notes that while some domestic industries might benefit from reduced competition, the overall economic effect could be negative, potentially slowing down economic growth and affecting jobs in industries reliant on cross-border trade.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/other/economics-professor-explains-how-prices-could-change-as-mexico-canada-tariffs-take-effect/ar-AA1AfG5H ]