President Donald Trump’s doubling of tariffs on foreign steel and aluminum could hit Americans in an unexpected place — grocery aisles — according to the Associated Press. The announcement Friday of a 50% levy on those imports stoked fears that big-ticket purchases from cars to washing machines to houses could see major price increases.
Trump’s return to the White House has come with an unrivaled barrage of tariffs, with levies threatened, added and, often, taken away. He insisted the latest tariff hike was necessary to “even further secure the steel industry in the U.S.”
That promise, though, could be at odds with his pledge to reduce food costs.
Production by domestic tin mill steel producers, whose products are used in cans, have reportedly decreased dramatically in recent years, making manufacturers reliant on imported materials.
Food companies were already warily assessing the administration’s tariffs before the latest hike, which Trump said would go into effect on Wednesday. The Campbell Co., whose soup cans are a staple for millions of Americans, has said it was working to mitigate the impact of tariffs but may be forced to raise prices. ConAgra Brands, which puts everything from cans of Reddi-Whip to cooking sprays like Pam on supermarket shelves, likewise has pointed to the impact steel and aluminum tariffs have.
Beyond the obvious products — canned foods like tuna, chicken broth and cranberry sauce — economists warn of a spillover effect that tariffs can have on a gamut of items. If the cost to build a store or buy a truck to haul food rises, the prices of products may follow.
