*Why you should read this: Because a 20 percent import tariff for Mexican imports will hit your pocketbook in the long run – in some cases in the short-term. VL
By Martha C. White, NBC News
American consumers would feel a pinch in their pocketbooks if Trump goes ahead with a 20 percent tariff on goods imported to the U.S. from Mexico.
“Mexico has taken advantage of the U.S. for long enough. Massive trade deficits & little help on the very weak border must change, NOW!,” Donald Trump Tweeted Friday morning.
But economists say a 20 percent tariff on goods coming into the country would translate to higher prices on everything from avocados to automobiles, and that hit could come quickly.