CHARLOTTE — President Donald Trump’s tariffs on Canada, Mexico, and China have taken effect, potentially impacting the prices of everyday items such as food, clothes, and gas.
The tariffs, which include a 25 percent increase on goods from Mexico and Canada and an additional 10 percent on Chinese products, are expected to lead to price hikes in various consumer goods. Shoppers are already considering changes to their spending habits in anticipation of these increases.
“I have to budget my money any kind of way that I can,” said Renee Slaughter, a shopper concerned about the potential rise in grocery prices due to the tariffs.
Consumer advisor Clark Howard explained, “Companies have to decide if they’ll accept lower profits to maintain prices as they are. Or if they want to try to maintain profits, they’re going to push prices up.”
Renee Slaughter, a senior citizen on a fixed income, is particularly worried about how the tariffs might affect her grocery bills. “I need to save my money,” she said.
Slaughter has already started shopping at Giant Penny in North Charlotte to avoid higher prices. She noted that meats and other items are cheaper there compared to other stores.
Howard advised consumers to shop smart by substituting products that might be affected by the tariffs with those that are not. Beverly McLaughlin, owner of Mecklenburg County Market, sees a potential upside to the tariffs, suggesting they could encourage more people to shop locally.
As the tariffs begin to affect the market, consumers like Renee Slaughter are adjusting their shopping habits, while local businesses may see new opportunities.
The full impact on prices will depend on how companies choose to respond to the increased costs.
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