Minnesota companies were assessing the damage Tuesday of the nascent trade war between the United States and its three biggest trade partners, an escalating tit-for-tat that could affect billions of dollars in state imports and exports.

The tariffs on imports from Mexico, Canada and China by President Donald Trump could have far-reaching consequences for consumers in Minnesota.

Economist John Spry predicts with the new Trump tariffs, the price is going up. “Roughly $100 a month more for the stuff you buy for as long as they’re in effect,” explains Spry, a finance professor at the University of St. Thomas. “These are big tariffs: 25% on everything from Canada and Mexico, except for a lower 10% on energy.”

Canada and Mexico are among the top three countries for Minnesota’s agricultural exports, and both countries are expected to retaliate.

After delaying proposed tariffs once, President Donald Trump has now implemented them on most goods from Canada and Mexico. They went into effect at 12:01 a.m. Tuesday.

Two of America’s largest retailers, based in Minnesota, are warning prices will increase following President Donald Trump’s new tariffs on imported goods from Mexico, Canada and China.

Strib Voices publishes a mix of commentary online and in print each day. To contribute, click here . ••• “We believe in comparative advantage,” Cargill CEO Brian Sikes said at an Economic Club of Minnesota event last week.

Danny Lundell said the tariffs will impact the price he pays for potash — a valuable soil nutrient — something he can only get from Canada. "We need potash to raise healthier crops," Lundell said. Mr. Trump recently went to social media, telling farmers to "have fun" selling domestically.

The University of Minnesota’s Confucius Institute — part of a controversial ... From 2014-2018, the University’s Confucius Institute received over $1.2 million from Hanban, China’s Confucius Institute headquarters, which makes up about 40 percent ...