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Tuesday, February 11, 2025

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A potent winter storm is thumping 1,500 miles of the US. Two more are right behind it; Amid scientists' warnings, Trump admin. sued over medical research cuts; Mississippi communities find local solutions to rural education challenges; CT groups rally against gas pipeline expansion.

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President Donald Trump approves 25% tariffs on steel and aluminum. Democrats who oppose dismantling the agency have been denied access to the Department of Education. And some places buck policy trends on sex education and immigration.

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Medical debt, which tops $90 billion has an outsized impact on rural communities, a new photography book shares the story of 5,000 schools built for Black students between 1912 and 1937, and anti-hunger advocates champion SNAP.

Experts have consumer tips on navigating tariff scenarios

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Tuesday, February 4, 2025   

States like North Dakota could see unique effects under President Donald Trump's approach to tariffs.

Uncertainty lies ahead, but one expert said consumers should be prepared. Going into this week, prospects were raised about the U.S. imposing tariffs on goods from counties like Canada and Mexico. The plans were paused for a month.

Ernie Tedeschi, director of economics of the Budget Lab at Yale University, said people should expect more of the president's rhetoric and know how to protect their wallets. If tariffs against Canada come back into play, the ripple effect on household budgets could be noticed in certain ways, especially in this part of the United States.

"We import a great deal of crude oil and natural gas from Canada, particularly in the Midwest," Tedeschi pointed out. "There's a heating bill effect. There's also a gasoline bill effect."

A significant percentage of fruits and vegetables come from Mexico but he cautioned against stockpiling them because they will likely expire before they're eaten, wasting your money. Groups like AARP said one way to prepare for possible changes is to find deals on dining out, with restaurants offering more discounts these days.

Lumber imports could become more expensive, with added pressure to rebuild homes lost in the Los Angeles wildfires. Tedeschi recommended if you're considering a home renovation project, it is something to keep in mind. He added if you feel you cannot hold off on a big-ticket purchase, like an appliance, there still could be wiggle room in the short term.

"Electronic stores, for example, get through their nontariff stock before they get to the tariff stock," Tedeschi noted.

Those prices might not escalate as quickly under a rapidly changing trade war if the local company has a big inventory ahead of time.

For durable goods, he emphasized it is all about doing the research to make sure the financial sting is not so bad. Cars are another example.

"Even if you think you're buying an American brand, remember that a lot of American brands are assembled in Mexico and Canada, and would be subject to tariffs," Tedeschi observed. "Or least some parts of them would be subject to tariffs."

While pauses were announced for Canada and Mexico, new tariffs for China were on the table this week.

Disclosure: AARP North Dakota contributes to our fund for reporting on Civic Engagement, Community Issues and Volunteering, Health Issues, and Senior Issues. If you would like to help support news in the public interest, click here.


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