What could get more expensive if Trump launches a new trade war with Mexico and Canada

New York CNN —

During President-elect Donald Trump’s first term, America launched an all-out trade war with China to boost US manufacturing, secure US national security interests and resolve what Trump believed was an extremely out-of-balance trade relationship.

President Joe Biden kept most of those tariffs in place and added a few new ones, too. While leaders of the two nations continue to butt heads, US consumers have paid the price, shelling out more money on goods imported from China.

Now Trump is focusing his attention on America’s largest and third-largest trading partners: Mexico and Canada. And he’s pledging something extraordinary: Come January 20, the day Trump is inaugurated, he pledged to slap a new 25% across-the-board tariff on all goods the US imports from the two nations – goods that are almost all coming across the border for free because of the Trump-negotiated US-Mexico-Canada Agreement, or USMCA.

Translation: Brace yourself for a potential trade war that could seriously lighten your wallet.

Here are some of the top consumer goods Americans buy from their neighbors to the north and south that could get more expensive if Trump follows through with his tariff plan:

Gas

Crude oil, which is refined to produce gasoline and heating oil, is one of the top imports to the US from Canada. In July it reached a record of 4.3 million barrels per day following the expansion of Canada’s Trans Mountain pipeline, according to data from the US Energy Information Administration.

The expansion has helped deliver more oil to be refined to much of the West Coast in addition to the Midwest, where it previously served most prominently.

Oil pumpjacks and tanks are pictured in a farmer’s field near Kindersley,