Trump's tariffs could drive up grocery bills – from beef to pork, avocados to tequila

Published 2024년 11월 26일

Tridge summary

President-elect Donald Trump's proposed tariffs on agricultural products from Mexico and Canada could lead to higher prices and potential shortages of fresh fruits, vegetables, and other agricultural items in the U.S., according to agricultural economists and industry executives. Mexico and Canada are the largest suppliers of agricultural products to the U.S., with imports worth nearly $86 billion last year. The tariffs could impact a significant portion of the U.S. food supply, especially avocados, strawberries, and other fruits, as well as beer and tequila imports. The tariffs could also be used as leverage by the U.S. in the renegotiation of the U.S-Mexico-Canada trade agreement in 2026.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

By Leah Douglas and Ed White WASHINGTON/REGINA, Canada (Reuters) - U.S. prices could rise for items such as avocados, strawberries and other fresh fruits and vegetables, potentially causing consumers to suffer shortages if President-elect Donald Trump follows through on plans to impose tariffs on products from Mexico and Canada, agricultural economists and industry executives said. Mexico and Canada are by far the two largest suppliers of agricultural products to the United States, with imports worth nearly $86 billion last year, according to data from the U.S. Department of Agriculture and U.S. Customs. Tariffs on food shipments from those countries could have significant financial and operational impacts on U.S. food supplies and could highlight how dependent the country has become on its neighbors to feed its people, economists said. Trump said Monday he would sign an executive order on his first day in office in January imposing a 25 percent tariff on all produce from Canada ...

Would you like more in-depth insights?

Gain access to detailed market analysis tailored to your business needs.
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.