Cost of These Essential Items Could Spike in Missouri

You've been hearing the word "tariff" a lot lately, and how this will affect businesses, but how will it effect you and your family?

I've been doing a lot of research on what tariffs will mean to my family. With grocery prices, gas, eggs, and everything else already seeming expensive, what will these tariffs mean for your family?

What is a Tariff?

Unless you took an economics class in high school or college, or just need a quick refresher, you may not be familiar with the term tariff.

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Simply put, a tariff is a tax on goods from another country, according to CNN.

Businesses pay the tariffs which are then passed down to the consumer. Tariffs from the U.S. to other countries have already gone into effect and you could see increases in some of these essential items sooner than later.

U.S. is now charging a 25% tariff on Canada and Mexico, while China saw a 10% tariff increase. In return, Canada places a 25% tariff on the U.S.

So get ready to pay more when you head to the grocery store, buy electronics, or any essential item you might need for your family.