From VOA Spanish: Trump promises to impose tariffs on Mexico, Canada and China: What this measure would mean

It's a shot in the foot,

Ebrard said of Trump's proposed tariffs, which appear to violate the USMCA trade deal between Mexico, Canada and the U.S

The impact on companies is huge,

he said

Such tariffs will, in the end, boomerang on the US in the form of higher inflation and rising interest rates,

said Bernard Baumohl, chief global economist for the Economic Outlook Group

If implemented, this would spell disaster for the US auto industry and Detroit's Big Three manufacturers, all of whom import significant numbers of vehicles from Canada and Mexico, as well as Volkswagen and other European OEMs (original equipment manufacturers),

Bernstein analyst Daniel Roeska said in a note

While it’s generally understood that a blanket 25 percent tariff on any vehicles or content from Mexico or Canada could be disruptive, investors under-appreciate how disruptive this could be,

they wrote in a note on Tuesday

I had an excellent conversation with President Donald Trump,

Sheinbaum posted on social media

Tariffs would likely be a higher tax on consumers – U.S. consumers,

Sinclair said

As he did in his first term, he will implement economic and trade policies to make life affordable and more prosperous for our nation,

Hughes added

The impact of this measure will chiefly be felt by consumers in the United States ... That is why we say that it would be a shot in the foot,

he said, speaking alongside President Claudia Sheinbaum during her regular morning conference

Around 400,000 jobs will be lost

he said, citing a study based on figures from US carmakers that manufacture in Mexico

We expect the increase in tariffs to lead to a rebound in inflation and a slowdown in economic growth,

Rabobank said

Inflation will pressure consumers to seek value, with an emphasis on private-label products, affordable luxuries and occasional dining out,

the report says

Therefore, the agribusiness sector in Australia and New Zealand should focus on profitability drivers, optimisation and diversification of products and markets to navigate change,

it said

A stronger US dollar and decreased US competitiveness in global markets would be a positive for Australian and New Zealand grain, oilseed, dairy and beef exports, particularly in the Asian wheat and dairy markets and global beef trade,

it says

But that's a heavy lift, especially for a Republican Congress

at the start of Trump's term ... said Stephen Kho, a trade lawyer at Akin Gump and former China trade enforcement counsel at the Office of the U.S. Trade Representative

It’s going to be very bad for the North American economy if this scenario unfolds as promised. We can hope that it’s just an elaborate bluff,

Clausing says

This is a time when U.S. consumers have expressed a lot of dissatisfaction with inflation, and arguably elected Trump because of that dissatisfaction,

says Kimberly Clausing, former lead economist in the Biden Administration’s Office of Tax Policy

So much of what we get in the US, from PlayStations to avocados … are from different places,

said Harris of Catoctin Creek

I don’t think that tariffs alone are going to bring manufacturing back to the United States without other initiatives,

said Rheuban

If you want a poster child for why tariffs don’t work, you just have to look at our industry,

said Nate Herman, of the American Apparel & Footwear Association (AAFA).