Businesses and shoppers will be affected by the tariffs on Mexico and Canada

US President Donald Trump has threatened to impose tariffs on Mexican and Canadian imports, warning he’ll impose “very big” tariffs on Chinese and US products if the tariffs aren’t waived off by the US government. The move will raise prices of laptops and phones for American consumers, Consumer Technology Association said. “Increasing expenses by 25% is going to lead to higher costs,” it added.