WACO, Texas (KXXV) — President Trump laid out his tariff plan Wednesday, calling it ‘liberation day’ with countries being tariffed for goods being brought into the country. There are two big imports that will affect you and your wallet soon.
- Not only put tariffs on goods from China, Mexico, and Canada but also on foreign goods from around the world with reciprocal tariffs to combat trade imbalances.
- The reciprocal tariffs will hit more than 60 countries with the goal to have more products from the home front and not have everything outsourced from foreign countries.
- Starting at 12:01 AM on Thursday, a 25% tariff on foreign-made cars will take effect.
BROADCAST TRANSCRIPT:
President Trump unveiled the country’s ‘liberation day, laying out his tariff policy for foreign goods coming into the U.S. He put tariffs on goods from China, Mexico, and Canada, and foreign goods from around the world with reciprocal tariffs to combat trade imbalances.
One of the biggest items impacted by tariffs is electronics, with a 34% tariff on China. We’ve been following this tariff as our own Bobby Poritvent and Marc Monroy spoke with local electronic shop owners on how this will impact business.
“Price gets passed down to us and we do our best to ease the pain on the customer,” said Aldo Jefferson, owner of Hardware Junky.
“It hasn’t effected to me any, you know, customers come in, I usually give them a price, they usally accept it, we order and we’re good to go. I haven’t seen any kind of issue like that for now for me,” said the owner of All Things Geek in Temple, TX.
Starting at 12:01 AM on Thursday, a 25% tariff on foreign-made cars will take effect, shaking up the auto industry. A 25% tariff on auto parts will take effect on Saturday, May 3rd. Our own Bobby Portivent spoke with a local auto repair shop on how this will effect every day business.
“What worries me is the supply chain. Not only the price of the parts will be going up, but the availability of the parts, I think that’s a problem we’re going to be running into in the very near future,” Chris Perales, owner of Perales Brothers Automotive said.
“A customer may have to sit without their car for weeks or maybe even a month or longer before we can get that part in,” Perales said.
