00:00It's Benzinga bringing Wall Street to Main Street.
00:02President Trump's newly enacted tariffs on imports from Mexico, Canada and China
00:06are set to disrupt trade dynamics and consumer prices.
00:10The move marks the departure from Trump's earlier, more targeted tariff strategy,
00:14encompassing broader categories, including agricultural products and automotive parts.
00:20Economists warn the tariffs may drive up grocery prices,
00:23which are already elevated by 28% over the past five years,
00:27and increase costs for routine automotive repairs.
00:30Trump is invoking the International Emergency Economic Powers Act to impose tariffs,
00:35citing a fentanyl and drug crisis he attributes to China, Mexico and Canada.
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