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O’Leary Ventures president Kevin O’Leary joins “Fox & Friends” to discuss with President Donald Trump about the Canadian and Mexico tariffs, and Elon Musk’s claim has approved fraudulent payments.
According to experts, tariff foods for major commercial partners by the United States are directed to major commercial partners in order to curb the flow of drugs and illegal immigrants into the country.
As food dealers are already operating at a razor-thin profit and from 1% to 5%-such businesses may be prone to the cost of customer costs-Beaton Kelly, the content manager of the food institute.
While Mexican import tariffs are suspended for one month, the United States continues to follow a 25% tariff from Canada and a 10% tariff from China to “threats caused by illegal strangers. And drugs including Deadly Fentanil, “he said in a statement by the White House.
Trump tariffs come into effect on Saturday: What do you need to know
Canada has retaliated with a 25% fee to bring the United States to enter into force on Tuesday and the Chinese government, which is also challenging Trump’s move, plans to “take proper countermeasures to reliably protect its rights and interests”, reports according to.
Customer shops in a grocery store on February 13, 2024 in Chicago. (Scott Olson / Getty Images)
When the tariffs are being carried out, including those who are in progress against Mexicans, the institute said that food and beverage products would soon cost more, “said Beon, who referred to Mexican avocados, Mexican beers such as Modelo and Corona, Canadian maple syrup and Canadian particles, as an example from Canadian cereals.
He also added that “it seems that” the consensus of grain may soon be able to pay more in America, as this is the general imports of all three countries aimed at Trump’s tariffs. ”
The proposed tariffs of Trump can increase food prices, according to experts
According to experts, imported dairy products, meat and various vegetables will be affected, although it is difficult to determine exactly what it looks like.
The United States receives a significant amount of pigs and beef imports from Canada, so there will be “undoubtedly” costs for imports of animals and is likely to be higher than beef and pork prices, Beonon said. According to the United States Ministry of Agriculture, the United States imported more than $ 37 billion in agricultural products from Canada in 2022.
A customer at a San Francisco grocery store on May 2, 2022. (David Paul Morris / Bloomberg via / Getty Images)
Sylvain Charlebois, a professor and senior director of the Agricultural Food Analysis Laboratory, also highlighted the threat of meat prices, with the US relying on such products, especially beef and pork.
“Canada is a key supplier for the US meat market, and potential costs of tariffs may increase the price of American consumers,” said Charlebois, adding that the United States is already struggling to maintain beef supply due to drought and production problems.
The restriction of Canadian imports only “tightens the market and contributes to inflation in this category,” Charlebois added.
There may also be a noticeable price increase in seafood, especially lobster and snow, especially in coastal regions, where Canadian seafood is common. Stores can be forced to search for alternative sources that can result in higher prices for consumers or reduce stocks, said Charlebois.
But fresh products are also in danger. For example, Canadian greenhouse vegetables such as tomatoes, peppers and cucumbers play a significant role in American food supply, especially in the colder months.
A customer in a dollar market store, Saddlebro, New Jersey, on February 29, 2024. (Gabby Jones / Bloomberg via / Getty Images)
Regardless of the major issue, Charlebois said that “the wider effect of these tariffs can exacerbate food inflation in the United States” at the time when households are already struggling with food prices.
“While the total effect depends on how retailers and suppliers respond, tariffs are almost certain to increase the costs of US consumers, especially in categories where Canada plays a crucial role. This step can further stretch the household budget , especially in the middle and middle parts.
The proposed tariffs of Trump can increase food prices, according to experts
Democrats and opponents have long stated that the cost of tariffs will only be He passed it on to American consumers. Over the past few months, many retailers have been concerned that tariffs are accelerating or even forcing them to reduce their stocks.
Trump said in a Sunday social media message that “there may be some pain” for Americans, but “it’s worth the price you have to pay.”
In a statement, the White House stated that the tactics of the fees for Trump “Mexico, Canada and China’s accountability for stopping illegal immigration and stopping toxic fentanyl and other drugs.
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Tariffs send a message: “Like the United States, the flow of Fentanil, for example, Fentanil, has created a national emergency through prohibited distribution networks, including a public health crisis,” the White House said.
