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tariffABC News
•US Politics
US Politics
84% Informative
Tariffs on goods from Mexico and Canada that are set to take effect on Feb. 1 could hike the price of a gallon of gasoline for some drivers by as much as 70 cents .
Tariffs of this magnitude would likely increase prices paid by U.S. shoppers, since importers typically pass along a share of the cost of those higher taxes to consumers.
The policy could raise prices for an array of products ranging from tomatoes to tequila to auto parts.
In 2023 , Canada and Mexico accounted for nearly $120 billion worth of U.S. motor vehicle imports, which totaled about 47% of all such vehicles imported that year . Canada and Mexico made up nearly the same share of auto parts imports that year , the Cato Institute analysis showed. “The operations of auto companies on both sides of the border will be hugely affected by these tariffs,” Robert Lawrence , a professor of trade and investment at Harvard University's Kennedy School of Government , told ABC News ..
VR Score
87
Informative language
87
Neutral language
58
Article tone
formal
Language
English
Language complexity
60
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
short-lived
External references
4
Source diversity
3
Affiliate links
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