Trump’s trade policies could drive up food prices

2025-02-04 08:27:08

(MENAFN) In accordance with specialists, several types of foods are going to be affected by expanding tariffs the US is imposing on key trading companions attempting to suppress the supply of drugs as well as unauthorized immigrants into the nation.

As per the chief content officer at The Food Institute, Kelly Beaton, some businesses may be compelled to raise costs on customers as they already gain an extremely slim profit margins, usually falling within the 1 to 5 percent range, such as grocery retailers.

While tariffs on Mexican shipments are put on hold for a month, the US keeps moving forward on policies to implement a 25 percent tariff on Canadian shipments and a 10 percent tariff on Chinese shipments in retaliation for the "threat posed by illegal aliens and drugs, including deadly fentanyl," the White House reported in an official announcement.

Canada authorized a 25 percent fee on US imports that would be officially implemented on Tuesday as a reaction to Trump’s decision. Additionally, China, that also opposes to Trump’ action, intending to take "respective countermeasures to reliably defend its rights and interests," based on media reports.

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