Many economists already believe it’s a matter of time before Americans start to see sticker shock from the tariffs President Donald Trump has enacted. That timeline could speed up even more if Trump follows through with his latest package of tariff threats slated to take effect in three weeks.

President Donald Trump announced a 35% tariff on goods from Canada, one of the USA's largest trading partners and which got hit with a higher rate than threatened for other close allies. The announcement July 10 came amid a flurry of letters going out this week dictating tariff rates for each of more than a dozen countries.