Loblaw Companies Ltd. CEO Per Bank announced that grocery prices will rise due to tariffs as current inventory runs out. In Canada, Loblaw anticipates an increase in tariff-affected products from just over 1,000 to potentially over 6,000 within months, impacting natural foods, pantry staples, and health products. Walmart is also raising prices in the U.S. as a response to trade tensions and tariff-induced costs. While Bank acknowledges recent government efforts to ease counter-tariff policies, he emphasizes the continued tariff challenges in Canada in the face of U.S.-Canada trade relations.
A trip to the store is about to become more expensive for shoppers on both sides of the 49th parallel as tariff-related price increases loom.
Loblaw's CEO Per Bank indicates that as pre-tariff inventory depletes, costs are set to rise significantly across multiple product categories.
Walmart is also raising prices in the U.S. due to tariffs, reflecting broader impacts of trade tensions on consumer goods.
Bank expresses optimism about political dialogue aimed at de-escalating tariff issues, noting recent adjustments in counter-tariff policies by the Canadian government.
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