President Trump agreed to a 30-day pause on new tariffs on Mexico and Canada earlier this week.
The future of the agreement, however, is unknown.
Tariffs are taxes on imported goods, usually used to encourage buying American goods.
However, Trump plans to use these tariffs as a bargaining chip to help secure the borders from drug and human trafficking.
“The products that were supported as tariffs was essentially almost everything that comes in on both sides, which would absolutely cripple both economies, both Canada and Mexico,” said Jadrian Wooten a professor of economics at Virginia Tech. “Mexico would be hit much harder than Canada would, but it’s a severe threat to our neighbors.”
Tariffs are not paid by foreign countries but are passed on to consumers in the form of increased prices.
If the taxes do go into effect, impacted products will include vehicles, produce, alcohol and fuel.