It was announced Monday that starting March 4, President Donald Trump will enforce a 25 percent tariff on Canada and Mexico, and a 20 percent tariff on China. This caused the S&P 500 index to lower by about 2 percent, which could foreshadow a stock market crisis.
China is the number one provider of goods to the U.S., importing toys, clothing, raw materials, plastics and so much more. Canada and Mexico are large contributors to the imported agriculture in the U.S., so this would cause the grocery prices to increase.
“There’ll be a little disturbance, but we’re OK with that. It won’t be much,” Trump said, responding to the criticism. This policy will specifically hurt low to middle class families, with a mix of inflation and higher taxes, living conditions will continue to deteriorate and become more unaffordable.
