A new 25% tariff on steel and aluminium imports could make a few things in your shopping cart more expensive. Veuer’s Maria Mercedes Galuppo has the story.
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00:00A new 25% tariff on steel and aluminum imports could make a few things in your shopping cart
00:06more expensive, according to the BBC.
00:08Here's what you might notice.
00:10Canned food, beer and soda.
00:11A lot of the steel used for food cans can come from places like Canada and Germany.
00:16So with tariffs in place, prices could go up.
00:19Plus, companies like Coca-Cola are warning that the cost of making cans could mean a
00:23price hike for your favorite drinks.
00:26Car manufacturers like Ford and GM are already expecting an extra $1 billion in costs, which
00:32could lead to an increase of about $300 per car.
00:35And if the tariffs expand to goods from Mexico and Canada, your car could cost a lot more.
00:40Other sectors likely to be affected are construction, housing and appliances.
00:45Steel and aluminum are key for construction and home appliances, so this could push up
00:50the cost of building homes or buying things like washing machines.
00:54Homebuilders are concerned it could make housing even less affordable.
00:57With these tariffs kicking in soon, you might notice some price increase at the checkout.
01:02Keep an eye out.