Trump’s New Tariffs May Cost Shoppers at the Grocery Store
Steel Tariffs Grocery Prices may rise after President Donald Trump announced a 50% tariff on foreign steel and aluminum. The goal, he said, was to protect U.S. steel. But experts warn this could backfire.
Steel and aluminum are used in cars and appliances. But they are also in food packaging — cans for soup, beans, soda, and more. The tariffs may raise grocery prices.
Food Companies Sound the Alarm
Campbell and ConAgra warned that costs could rise. They say U.S. suppliers can’t meet their needs. Imports are vital, but now they’ll be taxed heavily.
“We can’t get all of our materials from the US because there’s no supply,” said ConAgra’s CFO David Marberger.
Cans of tuna, beans, tomato paste, and even pet food may cost more.
Experts Warn of Broad Economic Impact
Professor Usha Haley of Wichita State says the tariffs won’t spark a U.S. manufacturing revival. Instead, they may strain international ties and hurt families.
“It impacts every aspect of the economy,” says economist Babak Hafezi. “If a John Deere tractor costs 25% more, the food it helps produce will cost more, too.”
Steelworkers Cheer, But at What Cost?
Trump announced the tariffs to a crowd of steelworkers outside Pittsburgh. The United Steelworkers union praised the move. But economists aren’t convinced.
“You may get a few more steel jobs,” said Colby College professor Andreas Waldkirch. “But you destroy more elsewhere. The indirect costs are huge.”
Canned Goods Could Be Just the Beginning
The Can Manufacturers Institute warned of more price hikes. Imports make up a large part of can production. Without them, manufacturers will pay more — and so will shoppers.
“It plays into the hands of China,” said the Institute’s president, Robert Budway. “They’ll undercut American producers.”
Trump promised to cut grocery bills. But steel tariffs may do the opposite.
Source: AP News
