This is going to cost you: Experts weigh in as Colorado and the country prepare for Trumps tariff plan [Video]

COLORADO SPRINGS, Colo. (KKTV) – Monday night, President Donald Trump’s tariff plan went into effect. It adds a 25% tariff on all products imported from both Mexico and Canada and a 10% tariff on energy from Canada.

Mexico and Canada are among the largest trade partners for the United States. Experts say shoppers could see increased prices at the grocery store and the gas pump, but the biggest increases could come in both the housing and auto markets.

“If you’re looking to buy a car this is going to cost you both in terms of prices and availability,” said Director of UCCS Economic Forum Bill Craighead

Craighead says the tariffs could lead to major disruptions in the auto industry because both Mexico and Canada import auto parts and materials into the country. Craighead adds if you are looking to buy a home, expect those prices to go up as well …