Pain likely in aftermath of tariffs against trading partners [Video]

TUSCALOOSA, Ala. (WBRC) – U.S. tariffs on Canada, Mexico and China are in effect.

President Trump has imposed 25% tariffs on most imports. The move could impact your wallet. The bottom line is there’s not much we can do about it. The tariffs are here, and according to one UAB economist, the pain is coming.

By definition, tariffs are taxes on imported goods, meaning countries importing goods to the United States will pay the tax. China, Mexico and Canada are America’s three largest trading partners. They were hit with higher tariffs and the big three reciprocated.

“So it seems American businesses and investors are a little worried about this,” said Dr. Joshua Robinson, an associate professor of economics at the UAB Collat School of Business.

Dr. Robinson says he expects an immediate hit on items like lumber and cars.

“The U.S. car industry will be particularly hurt by this because the number …