Tariffs and Food
Hey Friends!
You’re most likely sick and tired of hearing about tariffs, the downfall of the stock market, and the increase in the price of metals we use and cars we buy, but there are other essential products to watch pricing on. We have the list here courtesy of Candace Nagy and the Eating Well Website.
Just a little taste:
Since Canada and Mexico are the top two suppliers of food and beverages to the United States, your grocery budget is likely to be affected if tariffs against agricultural products and food from those countries go into effect.3
But tariffs against some countries, including those like India, Indonesia and Vietnam, have already gone into place as part of Trump's April 2 announcement. That means more food price hikes may be on the horizon, particularly with items like vegetable oils (the U.S. imported $2 billion in veggie oils from Indonesia in 2023) and some seafood (the U.S. imported $2.5 billion in seafood from India in 2023).4
U.S. Department of Agriculture. Economic Research Service. Summary data on annual food imports, values and volume by food category and source country.
When it comes to potential tariffs on Mexico and Canada, here’s what to know—and what to consider stocking up on.