Economists and food industry executives warn that President Trump's planned tariffs on Canadian and Mexican imports will further increase costs for meat, vegetables, and fruit, adding to the burden of high inflation already faced by US consumers.
CHICAGO, Jan 31 - U.S. consumers grappling with soaring prices for beef and eggs will face even higher costs for meat, vegetables and fruit if President Donald Trump imposes tariffs on Canadian and Mexican imports, economists and food industry executives said.
Shortly after taking office last week, Trump set the Feb. 1 deadline for imposing 25% tariffs on imports from Mexico and Canada unless the countries move to halt flows of illegal immigrants and the deadly opioid fentanyl into the U.S. He also said he would impose a 10% tariff on Chinese goods over that country's role in the fentanyl trade.
Supply disruptions due to tariffs would highlight how reliant the nation has become on its neighbors for feeding its population. "These are products that are not easily replaced," he said."I can't go out and plant tomatoes in Illinois in January and hope to replace them." "Food companies are scrambling to come up with contingency plans in terms of where they might source these products should these tariffs come into place, and that adds cost to their operations," he said.The U.S. normally imports more than 1 million cattle from Mexico annually, though Washington has blocked shipments since late November due to the discovery of a pest in Mexico.
TARIFFS FOOD PRICES INFLATION TRADE AGRICULTURE
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