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 Trump on Thursday threatened to impose a 35% tariff on Canadian goods beginning Aug. 1. Mr. Trump's latest salvo came after he also threatened tariffs on a number of other countries earlier in the week,