BROADCAST TRANSCRIPT:
- Since being elected, Donald Trump has threatened that he will impose a 25% tariff on Mexico and Canada.
- Mexican President Claudia Sheinbaum counteracted Trump by imposing a 25% tariff on all imported American goods into Mexico.
- Trump also said he would impose a 100% tariff on the BRICS nations if they plan on creating their own currency. The countries in the BRICS alliance include Brazil, Russia, India, China, and Saudi Arabia.
“There really is no upside when you talk about tariffs as you’ll see retaliation from the countries," Ray Perryman, an economist in Waco, said.
It could soon be a lot tougher for people like Virgen Del Valle Ramos to afford groceries at our local stores.
“I think it’s going to be tough for me, so now I think I am going to start looking at other products that aren’t Mexican-imported,” Del Valle Ramos said.
President-elect Donald Trump is threatening Mexico with a 25% tariff if Mexican President Claudia Sheinbaum doesn’t help control the flow of migrants into the U.S.
"Now that the prices are possibly going up, I think it’s time for me to start learning about other recipes with cheaper ingredients," Valle Del Ramos said.
Lets say an imported Mexican snack cost $5, if the 25% tariff we’re to go into effect that would now cost $6.25.
"Since we don’t have many Mexican stores in Waco, I have no other option than to shop and spend the extra cash to cook my enchiladas,” Valle Del Ramos said.
Even Waco economist Ray Perryman is questioning the soon-to-be president’s decisions.
"Even across the entire economy, it will raise inflation about 1%, but again, it will be concentrated on goods if the tariffs fail,” Perryman said.
In response — President Sheinbaum said Mexico could impose tariffs on American goods.
“We got a lot of food, both agricultural products and processed foods from Mexico— those costs will go up, as will electronics and agricultural equipment.”
The possibility of tariffs is leaving Del Valle Ramos — along with many other neighbors I spoke with — fearful of their future grocery bills.
“I usually go to H-E-B, but I come to Poco Loco because it’s more stocked with Mexican goods,” Del Valle Ramos said.
