How will Trump tariffs impact consumers? It depends, but here are estimates [Video]

SALT LAKE CITY — Economists are warning that President Donald Trump’s tariffs on China, Mexico, and Canada could raise costs in America. 

Associated Press reported the new Trump tariffs on China are meant to stop fentanyl production. A 10% tariff was imposed, which went into effect on Tuesday. 

He also ordered tariffs on Mexico and Canada, in a move to curb illegal immigration. AP reported a 25% tariff on each of the nations, with an additional 10% tariff on Canadian oil, electricity, and natural gas. 

He later delayed their effective date to March 1 after the nations said they would boost security on their borders. 

Trump tariffs’ potential cost to Americans

According to the Tax Foundation, a nonprofit that researches tax policy, the proposed Trump tariffs could lead each U.S. household to spend an additional $625 per year. 

“Both estimates understate the cost to U.S. households because they do not factor in the lost output, lower incomes, and loss in …