02-03-25 YMS Prices could go up as a result of the new tariffs on goods imported from Mexico, Canada, and China. National correspondent Rory O’Neill looks at some of the things that may cost you more, and how soon you will be paying the increased prices.

Prices could go up as a result of the new tariffs on goods imported from Mexico, Canada, and China. National correspondent Rory O’Neill looks at some of the things that may cost you more, and how soon you will be paying the increased prices. 

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Episode Transcript

Speaker 1 (00:00):
Previously on your Morning show with Michael dil Choino.

Speaker 2 (00:04):
Sometimes if you miss a little, you miss a lot.
All Right, we're talking about the tariffs. The President signed
them on Saturday. I believe they go in effect tomorrow.
What are we looking at here? If this plays out
and plays out for a great length of time, how
much can we expect to pay and increased prices. Rory
O'Neil is back with the details and the story. Good morning, Rory,

(00:27):
Hey there, Michael, good morning.

Speaker 3 (00:28):
Yeah, and it's tough to figure out exactly when we
might start to feel the pinch. I think at the
supermarket first, and the vegetable aisles and the fruit stile,
because a lot of that obviously is much more time
sensitive than say lumber from Canada.

Speaker 2 (00:42):
Right well, and then you know we're towards the I
mean box of Tony phil Saw's shadows, so six more
weeks of winter, but we're at the tail end of that.
A lot of that crude that comes, and it's about
a million barrels a day or more, I think from Canada.
A lot of that is used for home heating oil,
some of that is used for aviation fuel, some of
that is used for shipping fuel, but a good majority

(01:05):
of it is what we use. That type of crude
is for home heating. That won't really be affected unless
this is still going on a year from now, right
and we drill more, process, more refined more. Some question
whether that's possible already, maybe a maximum lens. And then
the automobile I delved into that over the weekend, just
to take a peek because I saw online somebody asked

(01:26):
the question, well, will this create, you know, a greater
expense for new vehicles, so people will turn to pre
owned vehicles, and then you'll start having a shortage and
they'll drive up pre owned vehicle prices. Well know that,
and there really isn't that. But he makes the models
that come out of Canada. I don't see this as
an automotive story, but I do see it as a
Mexican produce story, and I see it as a crude

(01:48):
oil story, don't you.

Speaker 3 (01:49):
Well, if a lot of the parts come from Mexico
and Canada is sort of the problem, or they're assembled
in one or the other, and it gets a little
bit gray and difficult to track. It's not as like,
it's not as easy as saying, well it's made in
Detroit from Lockstock and Barrel. Is that no, this stuff
is coming in from all over the world, and so cars,

(02:10):
because they're so complicated, that is a bit more difficult
to track. Whereas you know, an avocado, we can see
that avocado prices are probably going to be going up.

Speaker 2 (02:20):
You know, the big question has always been what do
people think this is a you know, what is Donald
Trump's end game and play on this. It could be
to relook at the Canadian American Mexican trade agreements. It
could be over border security and poorest borders that they
have not done more to help us protect or even
protect their own country with you get made in America,

(02:43):
putting America first. I mean, we've done the laundry list
of the brainstorm, and then sometimes it's just all the above,
but you get a sense it's a negotiation. Does that
negotiation begin today with the talks with Canadian Mexican leaders?

Speaker 3 (02:54):
I suppose just trying to figure out what the endgame
here is and what's he trying to get out of this.
I mean, I know he's pointing to to we subsidize
Canada two hundred billion dollars a year, blah blah, blah, Well, look,
Canada's got forty million people. We've got three hundred and
forty million people. Yeah, we're going to buy more of
their stuff from them versus the other way around. So
a lot of that trade imbalanced talk doesn't really land.

(03:18):
And then fentanyl. I think the US sends more fentanyl
into Canada than the other way around. So you know,
I'm not sure really what this is all about.

Speaker 2 (03:27):
Well, time will tell, but the key, the key to
the issue is how long it lasts. He's not gonna
feel anything unless it lasts for a long period of time.
Hopefully this is a negotiation and hopefully it's one that
can be resolved. Certainly all parties have skin in the game,
that's for sure. Very good reporting. We'll talk again tomorrow.

Speaker 1 (03:42):
Miss a little, miss a lot, miss a lot, and
we'll miss you. It's your morning Show with Michael del Churno.