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Once 2024 comes to a close, consumers may be greeted with an unfortunate reality at the grocery store: skyrocketing prices.
Trump has pledged to impose a 25% tariff on imports from Canada and Mexico, as well as a 10% tariff on imports from China. In posts on his social media platform, Truth Social, he’s said that the tariffs are meant to curb the flow of illegal immigrants and drugs into the United States, and they’ll remain in place until the “invasion” ends.While Trump’s spokesperson has disputed claims that the tariffs will cause more inflation after years of rising prices, some experts and organizations disagree.
Similarly, Michael Snipes—an economics professor at the University of South Florida, told Grocery Dive that the tariffs will “increase prices for everything that’s imported, and that includes food.” Per the USDA and Trading Economics, which provides economic data and forecasts for nearly 200 countries, fish, vegetables, fruit, cereal, coffee, tea, sugar, cocoa, dairy products, eggs, and vinegar are among the major imports that the United States receives from China. Meanwhile, some of the potentially impacted items from Mexico are cereal, paper products, vegetables, tropical fruits, fruit juice, beer, hard liquor, meat, fish, and seafood.
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