Trump tariffs to hit US consumers

»» Surcharge may add up to R184 000 per vehicle assembled in America.

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Consumer items ranging from avocados and strawberries to electronics and petrol look poised for price hikes in the wake of President Donald Trump's tariffs on Mexico, Canada and China.

"The consumer will likely see some price increases over the next couple of days," Target chief executive Brian Cornell said this week. Fresh fruit and produce imported from Mexico during the winter have a very short supply chain, Cornell told CNBC.

Of the agricultural products imported to the US from Mexico in 2023, 72.5% were fresh fruit and vegetables and beer and other alcohol, according to the US department of agriculture.

Yale University's Budget Lab estimated the net impact of Trump's tariffs will be between a 1% and 1.2% hike of consumer prices, a yearly toll of $1 600 (about R29 000) to $2 000 per household.