NoneDETROIT (AP) — If Donald Trump makes good on his threat to slap 25% tariffs on everything imported from Mexico and Canada, the price increases that could follow will collide with his campaign promise to give American families a break from inflation. Economists say companies would have little choice but to pass along the added costs, dramatically raising prices for food, clothing, automobiles, booze and other goods. The president-elect floated the tariff idea, including additional 10% taxes on goods from China, as a way to force the countries to halt the flow of illegal immigrants and drugs into the U.S. But his posts Monday on Truth Social threatening the tariffs on his first day in office could just be a negotiating ploy to get the countries to change behavior. High food prices were a major issue in voters picking Trump over Vice President Kamala Harris, but tariffs almost certainly would push those costs up even further. For instance, the Produce Distributors Association, a Washington trade group, said Tuesday that tariffs will raise prices for fresh fruit and vegetables and hurt U.S. farmers when other countries retaliate. “Tariffs distort the marketplace and will raise prices along the supply chain, resulting in the consumer paying more at the checkout line,” said Alan Siger, association president. Mexico and Canada are two of the biggest exporters of fresh fruit and vegetables to the U.S. In 2022, Mexico supplied 51% of fresh fruit and 69% of fresh vegetables imported by value into the U.S., while Canada supplied 2% of fresh fruit and 20% of fresh vegetables. Before the election, about 7 in 10 voters said they were very concerned about the cost of food, according to AP VoteCast, a survey of more than 120,000 voters. “We’ll get them down,” Trump told shoppers during a September visit to a Pennsylvania grocery store. The U.S. is the largest importer of goods in the world, with Mexico, China and Canada its top three suppliers, according to the most recent U.S. Census data. People looking to buy a new vehicle likely would see big price increases as well, at a time when costs have gone up so much they are out of reach for many. The average price of a new vehicle now runs around $48,000. About 15% of the 15.6 million new vehicles sold in the U.S. last year came from Mexico, while 8% crossed the border from Canada, according to Global Data. Much of the tariffs would get passed along to consumers, unless automakers can somehow quickly find productivity improvements to offset them, said C.J. Finn, U.S. automotive sector leader for PwC. That means even more consumers “would potentially get priced out,” Finn said. Hardest hit would be Volkswagen, Stellantis, General Motors and Ford, Bernstein analyst Daniel Roeska wrote Tuesday in a note to investors. “A 25% tariff on Mexico and Canada would severely cripple the U.S. auto industry,” he said. The tariffs would hurt U.S. industrial production so much that “we expect this is unlikely to happen in practice,” Roeska said. The tariff threat hit auto stocks on Tuesday, particularly shares of GM, which imports about 30% of the vehicles it sells in the U.S. from Canada and Mexico, and Stellantis, which imports about 40% from the two countries. For both, about 55% of their lucrative pickup trucks come from Mexico and Canada. GM stock lost almost 9% of its value, while Stellantis dropped nearly 6%. It's not clear how long the tariffs would last if implemented, but they could force auto executives to move production to the U.S., which could create more jobs in the long run. However, Morningstar analyst David Whiston said automakers probably won't make any immediate moves because they can't quickly change where they build vehicles. Millions of dollars worth of auto parts flow across the borders with Mexico and Canada, and that could raise prices for already costly automobile repairs, Finn said. The Distilled Spirits Council of the U.S. said tariffs on tequila or Canadian whisky won’t boost American jobs because they are distinctive products that can only be made in their country of origin. In 2023, the U.S. imported $4.6 billion worth of tequila and $108 million worth of mezcal from Mexico and $537 million worth of spirits from Canada, it said. “Tariffs on spirits products from our neighbors to the north and south are going to hurt U.S. consumers and lead to job losses across the U.S. hospitality industry,” it added. Electronics retailer Best Buy said on its third-quarter earnings conference call that it runs on thin profit margins, so while vendors and the company will shoulder some increases, Best Buy will have to pass tariffs to customers. “These are goods that people need, and higher prices are not helpful,” CEO Corie Barry said. Walmart also warned this week that tariffs could force it to raise prices. Tariffs could trigger supply chain disruptions as people buy goods before they are imposed and companies seek alternate sources of parts, said Rob Handfield, a professor of supply chain management at North Carolina State University. Some businesses might not be able to pass on the costs. “It could actually shut down a lot of industries in the United States. It could actually put a lot of U.S. businesses out of business,” he said. Canadian Prime Minister Justin Trudeau, who talked with Trump after his call for tariffs, said they had a good conversation about working together. "This is a relationship that we know takes a certain amount of working on and that’s what we’ll do,” Trudeau said. Trump's threats come as arrests for illegally crossing the border from Mexico have been falling . But arrests for illegally crossing the border from Canada have been rising over the past two years. Much of America’s fentanyl is smuggled from Mexico, and seizures have increased. Trump has sound legal justification to impose tariffs, even though they conflict with a 2020 trade deal brokered in large part by Trump with Canada and Mexico, said William Reinsch, senior adviser at the Center for Strategic and International Studies and a former Clinton administration trade official. The treaty, known as the USMCA, is up for review in 2026. In China’s case, he could simply declare Beijing hasn't met obligations under an agreement he negotiated in his first term. For Canada and Mexico, he could say the influx of migrants and drugs are a national security threat, and turn to a section of trade law he used in his first term to slap tariffs on steel and aluminum. The law he would most likely use for Canada and Mexico has a legal process that often takes up to nine months, giving Trump time to seek a deal. If talks failed and the duties were imposed, all three countries would likely retaliate with tariffs on U.S. exports, said Reinsch, who believes Trump's tariffs threat is a negotiating ploy. U.S. companies would lobby intensively against tariffs, and would seek to have products exempted. Some of the biggest exporters from Mexico are U.S. firms that make parts there, Reinsch said. Longer term, Mary Lovely, a senior fellow at the Peterson Institute for International Economics, said the threat of tariffs could make the U.S. an “unstable partner” in international trade. “It is an incentive to move activity outside the United States to avoid all this uncertainty,” she said. Trump transition team officials did not immediately respond to questions about what he would need to see to prevent the tariffs from being implemented and how they would impact prices in the U.S. Mexican President Claudia Sheinbaum suggested Tuesday that Mexico could retaliate with tariffs of its own. Sheinbaum said she was willing to talk about the issues, but said drugs were a U.S. problem. ___ Rugaber reported from Washington. AP reporters Dee-Ann Durbin in Detroit, Stan Choe and Anne D'Innocenzio in New York, and Rob Gillies in Toronto contributed to this report.
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Angie feels slighted after Meredith’s bat mitzvah in a new episode of “The Real Housewives of Salt Lake City” airing on Wednesday, December 11. The new episode will air at 8 p.m. ET on Bravo. Those without cable can watch the show for free through FuboTV or DirecTV Stream , each offering a free trial to new users. Sling is another option for streaming the show, and promotional offers are available. “The 10th installment of Bravo’s ‘Real Housewives’ franchise introduces an American reality television series that peeks inside the unconventional lives of six successful women living in or around Salt Lake City, Utah, who navigate an exclusive social circle in a city where religion, status and perfection are praised to the highest degree,” FuboTV said in a description of the series. In episode 13, “Angie feels slighted after Meredith’s bat mitzvah, Bronwyn and Lisa have a falling out over room assignments and Mary chooses to stay in Salt Lake City as issues with Robert Jr. come to a head.” Here is a look at the new season so far from Bravo’s YouTube Channel: Those without cable can watch the show for free through FuboTV or DirecTV Stream , each offering a free trial to new users. Sling is another option for streaming the show, and promotional offers are available. What is FuboTV ? FuboTV is an over-the-top internet live TV streaming service that offers more than 100 channels, like sports, news, entertainment and local channels. It offers DVR storage space, and is designed for people who want to cut the cord, but don’t want to miss out on their favorite live TV and sports. Fubo offers $30 off your first month. What is DirecTV Stream? The streaming platform offers a plethora of content including streaming the best of live and On Demand, starting with more than 75 live TV channels. What is Sling ? Sling TV is the first app-based TV service letting you stream live television and on-demand content over the internet. With Sling TV, you get to choose the television option that’s right for you, including Channel Add-ons, Premiums Add-ons, DVR Plus and more. More Shopping and DealsWant a NYC stay with the buzz of the Lower East Side? This is it
The AP Top 25 college football poll is back every week throughout the season! Get the poll delivered straight to your inbox with AP Top 25 Poll Alerts. Sign up here . ANN ARBOR, Mich. (AP) — Michigan’s defense of the national championship has fallen woefully short. The Wolverines started the season ranked No. 9 in the AP Top 25 , making them the third college football team since 1991 to be ranked worse than seventh in the preseason poll after winning a national title. Michigan (6-5, 4-4 Big Ten) failed to meet those modest expectations, barely becoming eligible to play in a bowl and putting the program in danger of losing six or seven games for the first time since the Brady Hoke era ended a decade ago. The Wolverines potentially can ease some of the pain with a win against rival and second-ranked Ohio State (10-1, 7-1, No. 2 CFP) on Saturday in the Horseshoe, but that would be a stunning upset. Ohio State is a 21 1/2-point favorite, according to the BetMGM Sportsbook, and that marks just the third time this century that there has been a spread of at least 20 1/2 points in what is known as “The Game.” Michigan coach Sherrone Moore doesn’t sound like someone who is motivating players with an underdog mentality. “I don’t think none of that matters in this game,” Moore said Monday. “It doesn’t matter the records. It doesn’t matter anything. The spread, that doesn’t matter.” RELATED COVERAGE Duke’s Diaz: QB Murphy faces internal discipline for raising middle fingers in Virginia Tech win Wake up the ghosts! Texas, Texas A&M rivalry that dates to 1894 is reborn Conference title games a chance at a banner, bragging rights and, for some, a season-wrecking loss How did Michigan end up with a relative mess of a season on the field, coming off its first national title since 1997? Winning it all with a coach and star player contemplating being in the NFL for the 2024 season seemed to have unintended consequences for the current squad. The Wolverines closed the College Football Playoff with a win over Washington on Jan. 8; several days later quarterback J.J. McCarthy announced he was skipping his senior season; and it took more than another week for Jim Harbaugh to bolt to coach the Los Angeles Chargers. In the meantime, most quality quarterbacks wanting to transfer had already enrolled at other schools and Moore was left with lackluster options. Davis Warren beat out Alex Orji to be the team’s quarterback for the opener and later lost the job to Orji only to get it back again. No matter who was under center, however, would’ve likely struggled this year behind an offensive line that sent six players to the NFL. The Wolverines lost one of their top players on defense, safety Rod Moore, to a season-ending injury last spring and another one, preseason All-America cornerback Will Johnson, hasn’t played in more than a month because of an injury. The Buckeyes are not planning to show any mercy after losing three straight in the series. “We’re going to attack them,” Ohio State defensive end Jack Sawyer said. “We know they’re going to come in here swinging, too, and they’ve still got a good team even though the record doesn’t indicate it. This game, it never matters what the records are.” While a win would not suddenly make the Wolverines’ season a success, it could help Moore build some momentum a week after top-rated freshman quarterback Bryce Underwood flipped his commitment from LSU to Michigan. “You come to Michigan to beat Ohio,” said defensive back Quinten Johnson, intentionally leaving the word State out when referring to the rival. “That’s one of the pillars of the Michigan football program. “It doesn’t necessarily change the fact of where we are in the season, but it definitely is one of the defining moments of your career here at Michigan.” ___ AP Sports Writer Mitch Stacy in Columbus, Ohio, contributed to this report. ___ Get alerts on the latest AP Top 25 poll throughout the season. Sign up here . AP college football: https://apnews.com/hub/college-football and https://apnews.com/hub/ap-top-25-college-football-pollVance takes on a more visible transition role, working to boost Trump’s most contentious picksBold and regal jewelry for the 2024 holiday season
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