President Donald Trump’s 25% tariffs on imports from Canada and Mexico went into effect Tuesday, along with a heightened 20% levy on Chinese goods. In response, all three countries announced retaliatory measures.<br /><br />Experts say consumers and businesses will be the hardest hit. Companies big and small will face higher costs on the goods they buy from other countries — and could have little recourse but to hike prices themselves. For consumers, that will likely mean more expensive price tags on everything from cars, appliances and other big-ticket items to smaller, everyday purchases including electronics, gasoline and groceries.
