Economics expert explains the impact tariffs will have on your wallet [Video]

SPRINGFIELD, Mass. (WGGB/WSHM) – It’s signed and official. 25% tariffs on imports from Mexico and Canada, and 10% tariffs on China, per order of President Donald Trump.

Western Mass News spoke with a local economics expert to learn how this order might impact you.

“Somebody said 95% of economists disagree with the idea of putting in tariffs, I’d like to know who those 5 percent are that think it’s a good idea,” AIC economics professor John Rogers told us.

He explained what this could mean for your wallet.

“The cost ultimately ends up with the taxpayer, or the consumer, and those costs get passed on through the supply chain, but somebody’s gotta pay them and it ultimately is gonna wind up in the price of the product.”

The short answer, he predicts, is an increase in prices for common household items, and manufacturing.

“It’s gonna be bad news all around. It’s gonna be bad news for the consumer, bad …