Experts Predict Consumers Will Be Worse Off As Trump Tariffs Raise Prices on Goods and Energy [Video]

Prices may soon increase at the pump due to tariffs on gas imported from Mexico and Canada enacted by President Donald Trump.

President of Mexico Claudia Sheinbaum has reached a deal with the Trump administration to delay the tariffs for a month, while import duties on Canadian and Chinese goods will go into effect on Tuesday.

The impact of the tariffs could harm oil companies and increase gas prices, The New York Times said.

“It’s going to be very, very messy” if the president goes ahead with the tariffs, said Tom Kloza, Oil Price Information Service’s global energy analysis lead, as The New York Times reported. “We haven’t dealt with something like this, certainly not in the modern era.”

“Enormous Destruction”: Trump’s Tariffs on Mexico, Canada & China Set to Worsen Inflation

[image or embed]

— Democracy Now! (@democracynow.org) February 3, 2025 at 10:30 AM

The United States also purchases …