• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

2

‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion

3

'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic

1

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

2

‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion

3

'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
Politics

Trump’s tariffs on Canada and Mexico just went into effect. Here are the products that could suddenly get more expensive

Marco Quiroz-Gutierrez
By
Marco Quiroz-Gutierrez
Marco Quiroz-Gutierrez
Reporter
Down Arrow Button Icon
Marco Quiroz-Gutierrez
By
Marco Quiroz-Gutierrez
Marco Quiroz-Gutierrez
Reporter
Down Arrow Button Icon
March 4, 2025, 9:03 PM ET
President Donald Trump on Tuesday instituted tariffs on three of its biggest trading partners, Mexico, Canada and China.
President Donald Trump on Tuesday instituted tariffs on three of its biggest trading partners, Mexico, Canada and China.Andrew Harnik—Getty Images
Add Fortune on Google for similar content.
  • Trump’s 25% tariffs on Canada and Mexico are threatening to make a trip to the grocery store more expensive by hiking the prices of avocados, strawberries, and maple syrup. Buying a new car or phone could also get pricier because entire products or their components are manufactured abroad.

Trump’s tariffs on Canada and Mexico could make everyday necessities like cars and groceries more expensive for the average person.

Recommended Video

On Tuesday, President Trump implemented major tariffs on the country’s biggest trading partners, including 25% tariffs on imports from Canada and Mexico along with an additional 10% tariff on China. The U.S. imported the highest value of goods from Mexico in 2024 ($510 billion), followed by China ($463 billion) and Canada ($421 billion), according to the United Nations COMTRADE database on international trade. 

By targeting the country’s three most critical  trading partners, economists broadly agree that Americans will have to pay more for everyday products. Here are some of the items that could be most impacted by Trump tariffs.

Grocery products

The tariffs targeting Mexico, in particular, could hike the prices of fruits and vegetables over the next several days, according to Target CEO Brian Cornell. Strawberries and bananas could be especially hit, he said. The U.S. imported $228 billion worth of bananas from Mexico in 2023, making it the 5th biggest supplier of the fruit to the U.S. It also imported more than $1 billion worth of strawberries from Mexico in 2023, more than any other country.

Avocados may be the most important produce item to see price hikes. Although other countries such as Peru, Colombia, and the Dominican Republic cultivate avocados, no country produces more than Mexico. 

In 2024, the U.S. imported $2.7 billion worth of avocados, or about 90% of its supply, from Mexico. Domestically, California accounts for the biggest chunk of avocado production, but acreage dedicated to the crop as well as its yield has been declining since at least the 2010s, according to the California Avocado Commission.

Canada, for its part, is the biggest U.S. supplier of maple syrup, although the U.S. produces some syrup domestically. The U.S. imported $376 million worth of maple syrup from Canada in 2023, which amounted to more than three-fifths of Canada’s production, according to the Canadian government. 

Cars

Several U.S. auto manufacturers have for years expanded the production and the supply chain for components for some vehicles to Mexico. As a result, an analysis from automotive consultant Anderson Economic Group claims the sticker price of a new vehicle could skyrocket by as much as $12,000 due to Trump’s tariffs. 

More specifically, the price of a large SUV with “significant” content from Mexico could rise by $9,000, while the price of a similar pickup truck could tick up $8,000. Consumers may also find that automakers stop producing some of the most impacted vehicles, the report claimed.

Among U.S. automakers, Ford builds its small Maverick pickup truck, the Bronco Sport Compact SUV, and the electric Mustang Mach-e in Mexico, according to Bloomberg. General Motors builds some of its Chevrolet Silverado trucks in Mexico as well. 

Oil and plastics

Energy-related imports from Canada were hit with a lesser, but still significant, tariff of 10% Tuesday, and experts claim that the tariff hit on crude oil could translate to higher gas prices. 

While the U.S. is the world’s biggest natural gas and crude oil exporter, Canada is the biggest supplier of crude oil to the U.S, by far. The second-biggest supplier is Mexico, which is also affected by tariffs. 

Canadian oil is heavier than much of the oil extracted in the U.S. and is more well suited for American refineries than the lighter oil produced domestically, according to the Associated Press. As of December about 4.2 million barrels of crude oil, equivalent to more than 267 olympic-sized swimming pools, were imported each day from Canada.

Computers and toys

The 10% additional tariffs imposed on China by President Trump are “roughly twice as large as the increase over the entire first Trump administration,” according to a Tuesday note by Goldman Sachs. As such, the tariff hike is bad news for consumers looking to buy electronics or toys. 

Many of the smartphones used by U.S. consumers are made in China. As of 2020, seven of 10 smartphones in the U.S. were produced in China, according to research firm Canalys. Although smartphones were largely exempt from tariffs during the first Trump administration, the president has given no indication that they will be this time.

Although the biggest smartphone maker, Apple, has scaled back its production in China in recent years, much of the company’s iPhone production remains in the country. 

More than 80% of toys imported to the U.S. are made in China, according to industry group the Toy Association. Jay Foreman, the CEO of Tonka Truck maker Basic Fun, told the Washington Post that the price of its Tonka Classic Steel Mighty Dump Truck could rise to as much as $39.99 from $29.99 because of tariffs on China. 

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
About the Author
Marco Quiroz-Gutierrez
By Marco Quiroz-GutierrezReporter
LinkedIn iconTwitter icon

Role: Reporter
Marco Quiroz-Gutierrez is a reporter for Fortune covering general business news.

See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Politics

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Politics

Trump to impose 50% tariffs on most Canadian goods, invoking the ‘nuclear option’ that could unleash a new wave of economic chaos and inflation
EconomyTariffs
Trump to impose 50% tariffs on most Canadian goods, invoking the ‘nuclear option’ that could unleash a new wave of economic chaos and inflation
By Josh Boak and The Associated PressJuly 20, 2026
9 hours ago
President Donald Trump walks down the steps from Air Force One.
PoliticsDonald Trump
Trump admin attempted to uncover phone records of NYT journalists and sources related to coverage of Qatari-gifted Air Force One
By The Associated Press, Eric Tucker and Jocelyn NoveckJuly 20, 2026
10 hours ago
Alaskan pilot Ken Jouppi sits in an aircraft hanger in front of a plane.
LawSupreme Court
A passenger brought a 6-pack of beer on an Alaskan pilot’s plane. He now has to defend his plane’s seizure in front of the Supreme Court
By The Associated Press and Michael KunzelmanJuly 20, 2026
11 hours ago
Blue Owl Capital owns about a third of the Freedom Fuel properties: A look inside the $3.47 gas chain
North AmericaDonald Trump
Blue Owl Capital owns about a third of the Freedom Fuel properties: A look inside the $3.47 gas chain
By Brian Slodysko, Michael Biesecker and Josh BoakJuly 20, 2026
11 hours ago
A 13-year-old teenage boy looks at an iPhone screen displaying various social media apps.
PoliticsSocial Media
French President Macron backs effort to ban kids under 15 from social media before departing office next year
By The Associated Press and Samuel PetrequinJuly 20, 2026
11 hours ago
jd
PoliticsWhite House
JD Vance becomes first sitting vice president to welcome a child in office in over 150 years
By Darlene Superville and The Associated PressJuly 20, 2026
18 hours ago

Most Popular

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
Success
Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
By Sasha RogelbergJuly 20, 2026
13 hours ago
‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion
Success
‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion
By Sydney LakeJuly 20, 2026
18 hours ago
'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
AI
'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
By Jason MaJuly 18, 2026
2 days ago
Warren Buffett says his $147 billion investing career was an accident: ‘I may be one of the 10 luckiest in the world’
Future of Work
Warren Buffett says his $147 billion investing career was an accident: ‘I may be one of the 10 luckiest in the world’
By Sarah GlodekJuly 20, 2026
1 day ago
Current price of silver as of Monday, July 20, 2026
Personal Finance
Current price of silver as of Monday, July 20, 2026
By Joseph HostetlerJuly 20, 2026
21 hours ago
It’s not just Taco Bell lettuce and possible glass in Pillsbury rolls: Food and drink recall events reached a 6-year year-over-year high
Retail
It’s not just Taco Bell lettuce and possible glass in Pillsbury rolls: Food and drink recall events reached a 6-year year-over-year high
By Sasha RogelbergJuly 20, 2026
21 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.