Consumers are likely to face higher costs for some imported goods, experts say. Here's the potential impact on your wallet.

Trump initially implemented 25% tariffs on Mexican and Canadian imports, along with an additional 10% tax on Chinese goods, bringing the total tariff to 20%, last Tuesday. But he soon backed off, exempting the auto industry for a month from the 25% tax and then expanded that to cover any product covered by the United States–Mexico–Canada Agreement.