President Donald Trump is doubling down on tariffs, targeting America’s three largest trading partners—Mexico, Canada, and China—with sweeping import taxes. This move marks a more aggressive use of tariffs than anything he attempted during his first term, and it’s raising eyebrows among economists and trade experts.

Trump has long viewed tariffs as a powerful tool to address issues like trade deficits and illegal immigration. But this $1.4 trillion gamble could have serious consequences for the economy, particularly for everyday consumers. Analysts warn that higher prices at grocery stores, car dealerships, and elsewhere are likely, which could weigh heavily on already-stretched budgets.

The stakes are high. During Trump’s first term, tariffs didn’t lead to significant inflation, but the current economic landscape is very different. Today, prices are already elevated, and even modest increases could ripple through the economy. For example, the auto industry could see car prices jump by $3,000 due to supply chain disruptions, while gas and grocery costs could also climb.

Experts argue that tariffs on close neighbors like Canada and Mexico could backfire, disrupting the tightly integrated North American economy. “Why would you want to burn your own house down?” said one trade analyst, highlighting the risks of such a strategy.

The potential fallout doesn’t stop there. Retaliatory tariffs from other countries could further strain the economy, potentially wiping out billions in GDP growth over the next few years. The Federal Reserve might also face tough decisions, as higher prices could delay anticipated interest rate cuts.

While it’s still unclear how this will all play out, one thing is certain: Trump’s tariff gamble is a high-risk move that could have lasting effects on the economy and consumers. As one economist put it, “The administration is playing with fire.”