Former president plans huge tax shake-up that could change your shopping bills forever

Last month Donald Trump shared his first-day office plans that shocked many business-owners: a wide-ranging import-tax idea would hit US closest trading partners (Canada and Mexico getting 25% tax‚ China facing 10% fee)

The plan targets cross-border drug traffic and migration issues but experts say its not that simple. Mexican President Claudia Sheinbaum fired back with a clear message:

Migration and drug consumption in the United States cannot be addressed through threats or tariffs

Canadian officials werent happy either - Ontario leader Doug Ford compared it to a family-members betrayal. The whole thing affects about $2‚5-trillion worth of yearly trade which makes some finance-pros worried

The car-making business might get hit hard since it needs parts from all three countries: the industry takes up 11% of US manufacturing and gives work to lots of people (not counting related jobs). Because of current trade rules car-makers must get 75% of their stuff locally - they cant just switch to other countries suppliers

Experts point to some big road-blocks for this plan:
* It breaks current trade agreement rules
* Needs complex legal work to happen
* Might cause quick push-back from other countries
* Could make everyday items cost more

Market response was kinda quiet - stock numbers didnt move much and money-exchange rates stayed mostly the same. Still some Washington experts think Trump means business: “Trump loves tariffs and there will be tariff threats and maybe even tariffs‚“ says trade expert Simon Lester

The whole thing might hit close to home because Mexico sends lots of food to US stores while Canada supplies important stuff like lumber and oil. Scott Lincicome from Cato Institute joked: “The idea that we are going to have a guacamole tax on day one right before the Super Bowl is nonsensical“