Economists forecast that recent import tariffs imposed by President Trump will elevate grocery and liquor store prices, particularly impacting seafood, coffee, wine, nuts, and cheese. Analyst Phil Lempert indicates that this might affect around 40,000 supermarket products due to existing tariffs on imports from Canada, Mexico, and China. Additionally, factors like rising fertilizer costs and a weakening dollar will further drive food prices up. Experts stress that these country and food-specific tariffs represent a significant policy change with extensive implications for the food industry.
"Probably almost half of the products in a supermarket - about 40,000 products - will be affected by these tariffs, whether it's the entire product or just an ingredient."
"A main takeaway here is that the country-specific, food-specific tariffs will not tell the whole story. This is such a big change in policy that there will be broader implications."
Collection
[
|
...
]