New Rules Means Most In New York Will Pay $3,000 More

New Yorkers could lose $3,000 due to new rules.

New York Gov. Kathy Hochul says the tariff war between Canada and the U.S. is continuing to hit New Yorkers and the state's economy very hard.

Trade War Between Canada And Trump Is Hurting New York State

Hochul says the average New York family may end up paying up to $3,000 more over the course of a year if the tariffs remain in effect for a year.

Earlier this month, President Donald Trump issued 25 percent tariffs on imports from Mexico and Canada and 20 percent tariffs on goods from China took effect.

Those countries responded with tariffs against the United States.

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Below are 10 items that are getting more expensive due to the ongoing tariffs.

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“Here’s the problem: there’s no end in sight to this chaos. President Trump’s trade war is already sending the financial markets into a tailspin and tanking the 401(k) accounts of middle-class New Yorkers. He’s injecting pointless uncertainty into our economy and refusing to rule out a recession. It’s time for President Trump to rescind the tariffs and put our economy back on stable footing," Hochul stated.

After the tariffs were announced, companies like Target and Best Buy warned customers to expect higher prices on many items. CLICK HERE to find out more.

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Fewer Canadians Coming To New York

Hochul also says few Canadiens are crossing the border to visit since the tariffs were put in place.

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She says this is hurting businesses all across the Empire State, most notably in New York City and Western New York.

Be Prepared To Pay $12,000 More For Cars In New York

The Anderson Economic Group believes the new tariffs mean vehicle prices could jump between $4,000 and $12,000. The tariffs mean manufacturing costs for these vehicles will increase the most:

How Much More Might You Pay For Vehicles In New York

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