Anna Helhoski

Yeah, Elizabeth, there has been a lot of tit for tat, but these are some of the main points. Some of Trump's promised 25% tariffs on Mexico and Canada have gone into effect. And an additional 10% tariff has also been levied on Chinese goods, bringing the total added tariff to 20%. But Trump soon made an exemption, a one-month reprieve to the auto industry from the 25% tariffs on import purchases.

And then he walked back some of the Canada and Mexico tariffs by making an additional exemption for any imported products that are included in the 2020 free trade deal known as the United States-Mexico-Canada Agreement. And that's estimated to be around 50% of Mexican imports and 38% of Canadian imports. That pause will be in effect until April 2nd.

And then he walked back some of the Canada and Mexico tariffs by making an additional exemption for any imported products that are included in the 2020 free trade deal known as the United States-Mexico-Canada Agreement. And that's estimated to be around 50% of Mexican imports and 38% of Canadian imports. That pause will be in effect until April 2nd.

And then he walked back some of the Canada and Mexico tariffs by making an additional exemption for any imported products that are included in the 2020 free trade deal known as the United States-Mexico-Canada Agreement. And that's estimated to be around 50% of Mexican imports and 38% of Canadian imports. That pause will be in effect until April 2nd.

Now, yesterday, 25% tariffs on steel and aluminum went into effect, and there are no countries exempt from that. And that prompted the European Union and Canada to respond with countermeasures of their own.

Now, yesterday, 25% tariffs on steel and aluminum went into effect, and there are no countries exempt from that. And that prompted the European Union and Canada to respond with countermeasures of their own.

Now, yesterday, 25% tariffs on steel and aluminum went into effect, and there are no countries exempt from that. And that prompted the European Union and Canada to respond with countermeasures of their own.

They're mainly punitive, meaning that Trump is blaming Mexico and Canada for not curbing drug trafficking into the United States. But there's an economic side to it, too. He also claims that tariffs would entice companies to bring more manufacturing back to the U.S.

They're mainly punitive, meaning that Trump is blaming Mexico and Canada for not curbing drug trafficking into the United States. But there's an economic side to it, too. He also claims that tariffs would entice companies to bring more manufacturing back to the U.S.

They're mainly punitive, meaning that Trump is blaming Mexico and Canada for not curbing drug trafficking into the United States. But there's an economic side to it, too. He also claims that tariffs would entice companies to bring more manufacturing back to the U.S.

Unsurprisingly, it's not good. There have been retaliatory tariffs from Canada as well as China. Mexico is planning retaliatory tariffs but have pushed those back until the pause ends.

Unsurprisingly, it's not good. There have been retaliatory tariffs from Canada as well as China. Mexico is planning retaliatory tariffs but have pushed those back until the pause ends.

Unsurprisingly, it's not good. There have been retaliatory tariffs from Canada as well as China. Mexico is planning retaliatory tariffs but have pushed those back until the pause ends.

It's unclear exactly what will happen with the existing tariffs, but Trump has threatened additional ones, including unspecified tariffs on foreign cars as well as agricultural products. So basically, we've just entered a trade war, and we know those usually lead to all kinds of economic impacts, but namely higher prices for consumers.

It's unclear exactly what will happen with the existing tariffs, but Trump has threatened additional ones, including unspecified tariffs on foreign cars as well as agricultural products. So basically, we've just entered a trade war, and we know those usually lead to all kinds of economic impacts, but namely higher prices for consumers.

It's unclear exactly what will happen with the existing tariffs, but Trump has threatened additional ones, including unspecified tariffs on foreign cars as well as agricultural products. So basically, we've just entered a trade war, and we know those usually lead to all kinds of economic impacts, but namely higher prices for consumers.

Today, I'm talking with two NerdWallet personal finance experts on some of the ways shoppers can navigate the uncertainty. Kim Palmer and Amanda Barroso, welcome to Smart Money.

Today, I'm talking with two NerdWallet personal finance experts on some of the ways shoppers can navigate the uncertainty. Kim Palmer and Amanda Barroso, welcome to Smart Money.

Today, I'm talking with two NerdWallet personal finance experts on some of the ways shoppers can navigate the uncertainty. Kim Palmer and Amanda Barroso, welcome to Smart Money.

So, Kim, let's start with some of the categories of goods that are likely to be impacted by the tariffs.