Trump tariffs on Canada, Mexico, China, starting Saturday [Video]

President Donald Trump will put in place 25% tariffs on imports from Canada and Mexico and 10% tariffs on goods from China effective on Saturday, the White House said on Friday, but it provided no word on whether there would be any exemptions to the measures that could result in swift price increases to U.S. consumers.

Speaking to WCCO’s Chad Hartman on Friday, CBS News Washington Correspondent Major Garrett says this action, if it actually goes into effect, will raise consumer prices.

“If this holds, and you have to acknowledge that the press secretary saying that is meant to get finance ministers on the phone with Trump to see if this can be averted,” explains Garrett. “But if it isn’t averted, Mexico is our largest trading partner, and 50% of our auto parts in this country come from Canada or Mexico. More than a third of our oil and natural gas imports come from Canada. …