Trumps tariffs: how will they impact KOTA Territory [Video]

RAPID CITY, S.D. (KOTA) – Because of President Trump’s new tariffs, people in KOTA Territory and across the nation are bracing for higher prices for everyday goods, as well as higher pressure on the agricultural industry, which is a backbone of the Midwest’s economy.

Farmers and consumers in KOTA Territory are bracing for a financial hit as new 25% tariffs on Canadian and Mexican imports took effect at midnight Monday.

Economists are expecting these to drive up prices on everyday goods.

“I think there will be some immediate impacts, like on fresh food; fresh important avocados from Mexico for example,” Ernie Goss, a professor of economics at Creighton University, said. “The longer these tariffs are in place the more of the impacts we’ll see, and of course the president said he’ll reevaluate the tariffs on April 2, well that’s a long time off in terms of economics. They’ve already increased …