Consumer Corner
Trump’s opening tariff salvo will hurt US consumers − following through on Canada, Mexico threats will increase the price pain
Jason Reed, University of Notre Dame
If U.S. voters reelected Donald Trump hoping for relief from higher prices, his recent threats to impose tariffs on America’s three largest trade partners might make them think again.
On Saturday, Feb. 1, Trump announced 25% tariffs on Canada and Mexico and 10% tariffs on China, which he said would take effect on Tuesday, Feb. 4. While markets braced for the news to some degree, they still saw a steep premarket sell-off on Monday, Feb. 3, followed by morning volatility.
While Canada and Mexico negotiated monthlong reprieves on Monday, the new tariffs on China went into effect as expected Tuesday, Feb. 4. And while the ultimate shape of Trump’s tariff policy remains to be seen, the president warned that American consumers could feel “some pain” as a result.
Given my training as an economist and finance professor, I think Trump could be right on that score. In fact, if the tariffs go into effect, they could spell disaster for the Federal Reserve’s inflation reduction efforts.
From grocery stores to homes
U.S. consumers might be surprised to find out that almost every economic sector could be affected by this opening salvo of tariffs, should they go ahead in March. Imports from Mexico and Canada reached close to US$1 trillion in 2024, almost double the amount the U.S. imports from China.
The U.S. is particularly reliant on Mexico for fresh fruits and vegetables, and on Canada for lumber. So if the tariffs go into effect, Americans who have been waiting for home prices to ease may have to continue waiting, as tariffs on lumber and other building materials could worsen the affordable-housing crunch. And let’s not even talk about avocado prices.
Meanwhile, the 10% tariffs on Chinese goods will likely boost the price of electronics, and China has already imposed retaliatory measures. Trump has also proposed 25% tariffs on Taiwan and its semiconductor industry, in an attempt to push Taiwanese companies to invest more in U.S. manufacturing. If that tariff were to go into effect, prices for U.S. consumers would be even higher.
A tax by any other name …
Tariffs are an import tax. They’re passed through the supply chain in the form of higher prices and are eventually paid by consumers. Traditionally, governments have used tariffs as a fiscal tool to encourage businesses and consumers to move away from foreign-made products and support domestic businesses instead.
In theory, new tariffs could encourage foreign businesses to invest in the U.S. and make more stuff on American soil. Unfortunately, domestic manufacturing has seen a systemic decline since the 1980s, resulting in lower prices for consumers but severely limiting U.S.-produced products. In the short term, at least, import taxes on Canadian, Mexican and Chinese products would ultimately be paid by U.S. consumers.
Although this round of tariff threats may seem arbitrary to some, the Trump administration says it considers tariffs deeply intertwined with national security concerns. Stephen Miran, Trump’s pick to chair the president’s Council of Economic Advisers, has laid out a path for Trump’s tariff plan, which he says is aimed at putting American industry on fairer ground against the rest of the world.
In the long term, it’s unclear whether Trump’s threatened trade war will bring domestic manufacturing back to the U.S. and start a new industrial renaissance. In the meantime, American consumers will likely be stuck holding the bag.
Jason Reed, Associate Teaching Professor of Finance, University of Notre Dame
This article is republished from The Conversation under a Creative Commons license. Read the original article.
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What Professional Locksmiths Say Homeowners Get Wrong About Security
You have locks on your doors and windows, and you make sure they’re secure before you leave the house or head to bed each night. You may even have a security system with an alarm or cameras to protect your home. Some locksmiths say that may not be enough. Consider these small changes you can make to deter thieves from your home.
What Professional Locksmiths Say Homeowners Get Wrong About Security
(Family Features) You have locks on your doors and windows, and you make sure they’re secure before you leave the house or head to bed each night. You may even have a security system with an alarm or cameras to protect your home. Some locksmiths say that may not be enough. Bryan McCabe, director of locksmith operations with KeyMe Locksmiths, the nation’s leading provider of local locksmith services and No. 1 provider of key duplication kiosks, said homeowners should be mindful of common security vulnerabilities, many of which go unnoticed until it’s too late. A thief who wants to gain access to your home may do so by any means possible, including breaking windows or kicking in doors. However, those methods are loud and may attract attention. Instead, thieves will look to find the easiest house to enter. Consider these small changes you can make to deter thieves from your home.Close the Garage
Leaving your garage door open may seem harmless, but it can signal easy access to thieves. An open garage suggests relaxed security habits and can make burglars assume doors or windows might also be unlocked. Keeping it closed is a simple step that instantly makes your home more secure.
Make Your Home Look Lived-In
Burglars often target homes that appear empty. Dark houses – especially after nightfall – can stand out as easy opportunities. Leaving a light or two on helps create the impression someone is home. If you want to level up, use light timers or smart bulbs to automatically turn lights on and off, even when you’re away.
Keep Your Home Visible from the Street
Thieves prefer to work unnoticed. Overgrown trees, tall bushes, or dense landscaping near entrances can provide cover for someone trying to break in. Trimming greenery and maintaining clear sightlines from the street makes your home less appealing and more exposed – exactly what burglars want to avoid.
Upgrade Entry Points to Improve Security
Some relatively minor updates can make a big impact toward protecting your home. Start by assessing all home entry points, including secondary points like sliding doors, garage entries and basement doors. In addition to checking door frames, homeowners should examine strike plates, hinge security and whether existing locks are outdated.
Add Eyes to Your Front Door with a Doorbell Camera
Doorbell cameras are an affordable way to boost your home’s security. Visible cameras can stop many would-be thieves as they don’t want to be seen or recorded. Beyond deterrence, doorbell cameras let you see who’s at your door, receive alerts and check on your home anytime, whether you’re home or away.
Install Smart Locks for Control and Peace of Mind
Smart locks are another smart investment in home safety. They allow you to track who enters your home and when by assigning unique access codes. You can even lock (or unlock) the door remotely from your phone. With the ability to monitor, control and limit access, smart locks offer convenience and security. A local locksmith can help you choose the right option and handle installation, making the upgrade simple and stress-free.
Connecting customers with professional locksmiths in their area, KeyMe Locksmiths provides comprehensive home security and lockout services – from key replacement to lock installation or repair – with more than 7,500 kiosks nationwide. These self-service machines utilize advanced technology for fast, accurate and “one-stop-shop” key copying, including home and office keys, car keys and fobs, mailboxes, padlocks and RFID access cards.
Find more advice to help protect your home and belongings, and a locksmith or kiosk near you, by visiting key.me.
Welcome to the Consumer Corner section of STM Daily News, your ultimate destination for savvy shopping and informed decision-making! Dive into a treasure trove of insights and reviews covering everything from the hottest toys that spark joy in your little ones to the latest electronic gadgets that simplify your life. Explore our comprehensive guides on stylish home furnishings, discover smart tips for buying a home or enhancing your living space with creative improvement ideas, and get the lowdown on the best cars through our detailed auto reviews. Whether you’re making a major purchase or simply seeking inspiration, the Consumer Corner is here to empower you every step of the way—unlock the keys to becoming a smarter consumer today!
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Last Updated on January 10, 2026 by Daily News Staff
Understanding Thread Counts
(Family Features) Many companies use thread count to make their sheets more appealing and luxurious, but a bigger number doesn’t always mean a good buy. Before you reach into your wallet, consider these truths about thread counts.
A thread count is a scientific term with strict federal standards on how the threads are counted. Simply put, it measures the number of threads woven together per square inch, counted lengthwise and widthwise. A 400-thread count sheet will have 200 threads lengthwise and 200 widthwise.
When a sheet has a count of 150, it is considered a muslin fabric, which isn’t all that soft to the touch. Any count of 180 or above is considered high quality, but anything beyond 400 is likely to only signify a higher price tag.
However, a sheet with a thread count of 200 can be softer to the touch than one with a 400 thread count. The quality of sheets depends not only on the thread count, but on the quality of fibers within those threads as well. Many stores and manufacturers tout Egyptian cotton as the best because of its long, strong fibers, which are more durable than most other cottons. Another high-quality cotton type is pima, also known for its extra-long fibers.
When shopping for new sheets, make sure you are looking at both the thread count and the quality. Look for a count between 200-400 and make sure the fabric quality is high to ensure you get the best bang for your buck, as well as a comfortable night’s sleep.
Find more tips for selecting linens and other home goods at eLivingtoday.com.
Photo courtesy of Unsplash
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