Minnesota companies were assessing the damage Tuesday of the nascent trade war between the United States and its three biggest trade partners, an escalating tit-for-tat that could affect billions of dollars in state imports and exports.
Economist John Spry predicts with the new Trump tariffs, the price is going up. “Roughly $100 a month more for the stuff you buy for as long as they’re in effect,” explains Spry, a finance professor at the University of St. Thomas. “These are big tariffs: 25% on everything from Canada and Mexico, except for a lower 10% on energy.”
Minnesotan’s could see an increase in prices soon thanks to President Trump’s tariffs and the reciprocal tariffs from Canada, Mexico and China turning it into a trade war. That’s according to University of Minnesota marketing professor Paul Vaaler.
Commerce Secretary Howard Lutnick said later on Tuesday that the U.S. would likely meet Canada and Mexico “in the middle,” with an announcement coming as soon as Wednesday. Lutnick told Fox Business News the tariffs would not be paused, but that Trump would reach a compromise.
The visit comes as the U.S. is assisting Australia in acquiring conventionally armed, nuclear-powered attack submarines.
Estimates of current mid-season flu vaccine effectiveness (VE) in Europe and China range from 32% to 58% overall, with greater protection against influenza B than A, according to three studies published in Eurosurveillance.