How will Trump’s proposed tariffs affect you? [Video]

MINNEAPOLIS — From foods to clothing, appliances, electronics, vehicles and so much more, the United States is the largest importer of goods in the world, according to the Office of United States Trade Representative.

On Monday, President-elect Donald Trump announced on social media his plan to impose 25% tariffs on all goods from Mexico and Canada, and an additional 10% on all imports from China, if those countries do not take measures to mitigate illegal immigration and drug trafficking into the United States.

“It’s not the foreign producer who pays this tax, but instead it’s the domestic company that’s actually importing the good,” explained University of St. Thomas Associate Professor in Economics Tyler Schipper.

He said the proposed tariffs—essentially taxes on goods coming in from other countries—would drive up prices for consumers if implemented. 

“I would hope that whenever somebody hears the word ‘tariffs,’ they …