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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(Family Features) Having your car professionally detailed is likely to set you back a chunk of change, but with the right supplies and a little spare time, you can get similar results at home.
Whether you’re washing away winter grime or just giving your ride some overdue attention, follow these steps to get your vehicle in tip-top shape.
Assess your vehicle’s condition. If there’s a specific problem you need to address, such as stains or excessive insect buildup on your front bumper, those are areas you’ll want to focus your time, energy and budget.
Purchase the necessary supplies. A car cleaning kit could simplify the shopping process, but you may need to supplement with additional items, such as a spot treater, to achieve the best results. The essentials include a sturdy bucket, washing mitt, soft bristle brush, soft rags, a dust rag, automotive soap, glass cleaner, a vinyl or interior-safe cleanser, vacuum and wax, if you wish.
Empty the vehicle. Removing all your personal possessions provides a blank slate for cleaning and prevents you from having to work around or worry about damaging your belongings. Also remove any elements of the vehicle you may want to clean separately, such as floor mats, console inserts and other removable pieces.
Tackle the interior. Start by removing debris from crevices and wiping away dust and other gunk. Then, with the initial layer of mess removed, go back and wipe down all surfaces using a cleanser. You can also clean the interior windows at this stage, and be sure to wipe down the console, especially if you have a touchscreen that is covered with fingerprints.
Vacuum thoroughly. Using a small vacuum or hose with strong suction, pay special attention to high-traffic areas and spaces where trash and debris tend to settle, such as between the seat and console. The floorboards will likely need the most attention, but don’t overlook the seats, and especially the area where the seat and back meet as this crevice can trap a great deal of dirt.
Clean the floor mats. Chances are good your floor mats rival the exterior for the dirt and grime they accumulate. Depending on how heavily soiled they are, and especially if they’re carpet-style mats, you may want to shampoo them after a deep vacuuming to remove stubborn stains.
Return belongings to the interior. Before you add everything back into your vehicle, take time to wipe down items and sort out any unnecessary clutter. It’s a good time to reorganize your storage areas to be sure the items you use frequently are in easy reach. You can also replenish supplies such as facial tissue and hand sanitizer.
Wash the exterior. Follow the instructions on the product’s label to wash your automobile’s exterior. Pay attention to special requirements such as allowing time for a bug remover to soak. In general, start with a rinse, followed by scrubbing with a mitt then an all-over rinse. Use a chamois towel or other drying cloth to avoid water spots.
Add finishing touches. If you’re using wax or planning on specialty treatments like tire cleaning, those will be among your final steps. Last but not least, clean the exterior windows with glass cleaner to remove streaks and leave them sparkling.
Find more practical vehicle maintenance tips at eLivingtoday.com.
Photo courtesy of Shutterstock
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(Family Features) Transform your home into a festive haven with these creative and stylish St. Patrick’s Day decor ideas.
Incorporate Classic Green and Gold
Green and gold are the iconic colors of St. Patrick’s Day, and they can instantly bring a festive feel to your home. Start by incorporating these hues into your existing decor. Add green throw pillows or a gold-framed mirror to your living room. You can also drape green and gold garlands across your mantel or staircase and use green and gold table runners, placemats and napkins in your dining area.
Add a Personal Touch with DIY Shamrock Crafts
Creating shamrock crafts can be a fun way to add a personal touch to your St. Patrick’s Day decor. Try making shamrock garlands using green construction paper, string and a bit of creativity. Or paint small wooden shamrocks and use them as ornaments or table decorations.
Build a Festive Centerpiece
A beautifully set table can impress your guests and make your celebration feel extra special. Go beyond the green and gold tablecloth, placemats and napkins with a centerpiece that features elements like shamrocks, gold coins and fresh flowers. You can also use green and gold candles to add a warm and inviting glow to your table.
Use Leprechaun Figurines in Creative Ways
Place leprechaun figurines in unexpected spots around your home to delight your family and guests. For example, you can position them on bookshelves, windowsills or in planters. Create little scenes by adding mini pots of gold, tiny ladders or faux greenery to make your decor feel magical and engaging.
Set the Scene with Scented Candles and Lights
Choose candles with scents of spring, such as fresh grass, mint or citrus, to create a refreshing and inviting ambiance. In addition to scented candles, consider using string lights or lanterns to add a soft, warm glow to your decor. You can wrap string lights around banisters or mantels, or use them to create a twinkling backdrop.
Find more ideas to get your home ready for St. Patrick’s Day at eLivingtoday.com.
Photo courtesy of Shutterstock
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Elevated Living Meets Small-Town Charm with Upscale Amenities and Boutique Retail
ALPHARETTA, Ga., March 3, 2025 /PRNewswire/ — DDB Capital Fund, LLC (“DDB Capital”), a leading real estate investment fund located in the Southeast, has secured 124 acres in Athens, Alabama. Known for its rich history, strong community values, and steady growth, Athens offers an exceptional quality of life while preserving its local heritage.
This development aligns with DDB Capital’s mission to introduce “higher living,” creating lasting value for families and strong returns for our fund’s investors. Athens boasts a thriving local economy, top-ranked schools, and a vibrant downtown filled with unique shops, restaurants, and cultural attractions, making it an increasingly desirable destination for homebuyers.
The community plans to feature 300 single-family homes, along with a resort-style pool, gym, pickleball courts, and green spaces. The development features retail spaces and a walking path, fostering a seamlessly integrated community.
Overview
- Location: 14477 Cambridge Lane, Athens, AL 35613
- Development Size: 124 acres
- Residential Units: 300 lots featuring custom-built and move-in-ready homes
- Retail: Curated boutique retail in a village-style setting
- Recreational Amenities: Pickleball courts, pool, gym, green spaces, walking trails
- Timeline: Development begins immediately, with home sales anticipated by mid-2026
About DDB Capital
Our mission is to drive innovation in real estate development while fostering thriving communities and sustainable growth. We are committed to delivering transformative developments that create lasting value for both investors and residents across the Southeast. For more information, visit www.ddbcapital.com.
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