Economists expect tariffs to increase what consumers pay for goods including vehicles, electronics, produce and lumber.
SAN ANTONIO — Tariffs has been a big talker for weeks and today is day one of them going into effect. Consumers will be feeling the impact of President Trump’s 25% tariffs on imports from Mexico and Canada.
At O’Brien’s Automotive they are already seeing the effects.
General Manager at O’Brien’s Automotive, Adolph Neugart is already seeing supply chain issues when getting certain parts.
“I’m already seeing prices hiking, like in particular brakes that stays status quo for a long time.” Neugart said. “I’ve already seen 10-to-15-dollar increase.”
He says tariffs may cost you more than you may be expecting.
“I know that about 40% of all parts for a vehicle for a pair, comes from Mexico and Canada,” he said. “Most remanufactured parts and most parts come from Mexico, a small percentage out of Canada, so we haven’t seen any just yet but we’re getting word that things are gonna be up so that’s gonna impact the customer.”
Dr. Jeff Addicott, professor of law at St. Mary’s University is optimistic about the impact of the tariffs from a businesses perspective – like increasing American jobs.
“In the short term there’s going to be some harm to the American consumer, but in the long-term, we’re going to see a boom in the country that we haven’t seen in decades,” Addicott said. “The illustration is clear, two trillion dollars of new investment – that didn’t happen in the Biden administration. Countries realize with the tariffs it’s better to build the factory not in a foreign country but in America.”