Speaker Mike Johnson (R-LA) addressed concerns that President Donald Trump’s proposed tariffs will increase the price of various goods in the coming weeks and months.
Trump has threatened a 25% tariff on all imports from Canada and Mexico – the two largest trading partners of the U.S. Contrary to many of Trump’s previous statements, tariffs are paid by the importing company and passed on to consumers. The tariffs could go into effect as early as Saturday, with the auto industry in particular being heavily impacted.
On Monday, Johnson took questions at a Republican congressional conference at Trump’s Doral Miami Resort where a reporter raised the possibility of a trade war and the price of various goods increasing as a result.
“I’m not going to predict the outcome of, uh, first of all, which tariffs will be enacted and how it will affect prices,” Johnson began. “We’ll have to see. I think you’re seeing a measured approach by …