Higher Prices Ahead? Trump's Border Tariffs Could Hit Your Grocery List

MexicoWed Nov 27 2024
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Paying more for your favorite fruits, veggies, and even beer from south of the border. The U. S. imports a lot of its fresh produce from Mexico, which could reportedly face new tariffs under Trump. The bottom line? You might feel the pinch in your wallet while shopping. Mexico is a major supplier of tomatoes, avocados, raspberries, bell peppers, and strawberries to the U. S. , accounting for more than 60% of imported vegetables and half of fresh fruit. These aren’t just numbers; they represent the food you see on grocery store shelves.
Economists worry that higher tariffs could lead to higher prices for U. S. consumers. Yet, Trump’s admin insists that other countries will bear the costs, which might not be the case. Store owners like Walmart are already considering price hikes if these tariffs go into effect. More broadly, economists fear these tariffs could spark inflation. A recent report from Goldman Sachs suggests Trump’s plans could lead to nearly 1% inflation increase, though some view his announcements as bargaining chips. This isn’t the first time Mexican imports have been in the spotlight. Lower labor costs and year-round growing seasons have made Mexico a prime source of U. S. food. But changes in tariffs could disrupt this balance and impact what you pay at the checkout.
https://localnews.ai/article/higher-prices-ahead-trumps-border-tariffs-could-hit-your-grocery-list-868e8b4

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