Mexico has been preparing possible retaliatory tariffs on imports from the U.S., ranging from 5% to 20%, on pork, cheese, fresh produce, manufactured steel and aluminum, according

The tariffs that President Donald Trump is imposing on Canada, China, and Mexico, the three largest U.S. trading partners, could cost the average American household $1,200 a year at a time when many are desperate for lower prices after years of inflation eating away at their bank accounts.