It looks as if a big OUCH is coming to Michigan and Grand Rapids. We are going to be  shocked at higher prices due to the new tariffs going into effect! Pain is on the way!

President Trump has raised tariffs on Canada, Mexico, and China. These tariffs will affect everyone because so many everyday products will be affected.

👇 BELOW: HOW YOU CAN SAVE MONEY TODAY! 👇

Here we go again with a higher cost of living!

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Tariffs have been raised 25% on imports both from Canada and Mexico, and 10% on China imports, and slated to begin tomorrow morning, Tuesday, February 4.

There is a bit of good news since the U.S. and Mexico have reached an agreement to stave off the 25% tariff raise for one month. You can breath easier!?

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DO I REALLY HAVE TO WORRY ABOUT HIGHER TARIFFS?

Yes, we should worry because the higher tariffs will affect so many things in our lives.

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WHAT CAN WE EXPECT?

 Here are some examples provided by our sister station, WSBS.

Appliances

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The National Retail Federation report predicts there could be as much as a 19.4% increase in kitchen appliances.

Electronic Items

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Prices will go up on smartphones, laptops, televisions and other electronics.

Energy/Electricity

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Although it sounds strange, the cost of electricity may go up due to the way we share power grids in the North Americas.

Gasoline

U.S. Gas Prices Soar To Record National Average
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Just when we are seeing the price of gas go down, we could see gasoline prices rise by 30 cents to 70 cents a gallon.

Groceries

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We're all fighting the price of food today. With the bird flu epidemic, eggs are sky high. Guess what? Because of tariffs, watch other prices rise as well because we import food in the billions of dollars from Canada.

Housing

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If you're wondering how tariffs affect housing, just watch. The U.S. imports lunber and building materials which means the higher cost will be passed on the the consumer.

Cars and Trucks

Electric Car Sales Are Bright Spot Amid Industry's Slump
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Experts are saying an extra $3,000 could be added to the cost of a new vehicle.

Tequila and Canadian Whiskey

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Say it isn't so, but it is. Your favorite Canadian Whiskey and Mexican Tequila will cost you more.

I have only given you a sampling of how the tariffs could affect us. Let's hope things get worked out.

LOOK: Here are 25 ways you could start saving money today

These money-saving tips—from finding discounts to simple changes to your daily habits—can come in handy whether you have a specific savings goal, want to stash away cash for retirement, or just want to pinch pennies. It’s never too late to be more financially savvy. Read on to learn more about how you can start saving now. [From: 25 ways you could be saving money today]

Gallery Credit: Bethany Adams

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