NewsFinale
  • Home
  • News
  • Local News
  • Business
  • Health
  • Finance
  • Celeb Lifestyle
  • Crime
  • Entertainment
  • Advertise Here
Gleammour AquaFresh
NewsFinale
  • Home
  • News
  • Local News
  • Business
  • Health
  • Finance
  • Celeb Lifestyle
  • Crime
  • Entertainment
  • Advertise Here
Home Local News Increase in steel tariffs may jeopardize Trump’s pledge of cheaper groceries

Increase in steel tariffs may jeopardize Trump’s pledge of cheaper groceries

Spike in steel tariffs could imperil Trump promise of lower grocery prices
Up next
Hamas' cease-fire 'counteroffer' is a demand for Israel to give up the war
“Hamas Calls for Israel to End Conflict in Cease-fire Negotiations”
Published on 31 May 2025
Author
NewsFinale Journal
Share and Follow
FacebookXRedditPinterestWhatsApp


NEW YORK – President Donald Trump’s doubling of tariffs on foreign steel and aluminum could hit Americans in an unexpected place: grocery aisles.

The announcement Friday of a staggering 50% levy on those imports stoked fear that big-ticket purchases from cars to washing machines to houses could see major price increases. But those metals are so ubiquitous in packaging, they’re likely to pack a punch across consumer products from soup to nuts.

“Rising grocery prices would be part of the ripple effects,” says Usha Haley, an expert on trade and professor at Wichita State University, who added that the tariffs could raise costs across industries and further strain ties with allies “without aiding a long-term U.S. manufacturing revival.”

Trump’s return to the White House has come with an unrivaled barrage of tariffs, with levies threatened, added and, often, taken away, in such a whiplash-inducing frenzy it’s hard to keep up. 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.

Rising grocery prices, Trump has said, were among the biggest reasons voters swung his way. A look around a supermarket makes clear how many products could be impacted by new taxes on steel and aluminum, from beer and soda to dog food to can after can of beans, fruit, tomato paste and more.

“It plays into the hands of China and other foreign canned food producers, which are more than happy to undercut American farmers and food producers,” insists Can Manufacturers Institute president Robert Budway. “Doubling the steel tariff will further increase the cost of canned goods at the grocery store.”

Budway says production by domestic tin mill steel producers, whose products are used in cans, have dramatically decreased in recent years, making manufacturers reliant on imported materials. When those prices go up, he says, “the cost is levied upon millions of American families.”

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.

“We can’t get all of our materials from the US because there’s no supply,” ConAgra CFO David Marberger said at a recent Goldman Sachs conference on global staples.

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 rise, the prices of products may follow.

Most Americans will never buy a tractor, but Babak Hafezi, who runs a global consulting firm and teaches international business at American University, says a price spike in such a big-ticket item vital to food production will spill down to all sorts of other items.

“If a John Deere tractor costs 25% more, consumers pay the price for that,” Hafezi says. “This trickles down the economy and impacts every aspect of the economy. Some of the trickling is immediate and others are slower to manifest themselves. But yes, prices will increase and choices will decrease.”

Trump appeared before a crowd of cheering steelworkers to unveil the new tariffs at a rally outside Pittsburgh. In a statement, David McCall, president of the United Steelworkers International union, called tariffs “a valuable tool in balancing the scales” but “wider reforms of our global trading system” are needed.

It may be harder to gauge the weight of tariffs on, say, a can of chickpeas versus that of a new car, but consumers are likely to see myriad indirect costs from the levies, says Andreas Waldkirch, an economics professor at Colby College who teaches a class on international trade.

“Anybody who’s directly connected to the steel industry, they’re going to benefit. It’s just coming at a very high cost,” Waldkirch says. “You may get a few more steel jobs. But all these indirect costs mean you then destroy jobs elsewhere. If you were to add that all in, you come up with a pretty large negative loss.”

___

Matt Sedensky can be reached at msedensky@ap.org and https://x.com/sedensky

Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

Share and Follow
FacebookXRedditPinterestWhatsApp
You May Also Like
Hundreds of hikers rescued from Mount Everest after severe snowstorm
  • Local News

Massive Snowstorm Triggers Rescue Operation for Hundreds of Hikers on Mount Everest

BEIJING – About 900 hikers, guides and other staff who were stranded…
  • NewsFinale Journal
  • October 8, 2025
South sees higher prices, steady job growth, new labor report shows
  • Local News

Labor Report Highlights Steady Job Growth and Rising Prices in the South

ATLANTA () — A new report from the Bureau of Labor Statistics…
  • NewsFinale Journal
  • October 7, 2025
Danville K-9 gets body armor donation from nonprofit
  • Local News

Nonprofit Donates Body Armor to Danville Police K-9

DANVILLE, Ill. (WCIA) — Another Danville Police K-9 has received a body…
  • NewsFinale Journal
  • October 7, 2025
There are 72% more condo sellers than buyers in the US: Redfin
  • Local News

Condo Sellers Outnumber Buyers by 72% in the US: Redfin Report

(NewsNation) —  If the national housing market is cool, the condo market is…
  • NewsFinale Journal
  • October 7, 2025
Seminole County schools forced to shutter class over ‘racial discrimination’
  • Local News

Seminole County Schools Close Due to Allegations of Racism

SEMINOLE COUNTY, Fla. – Seminole County Public Schools was required to shut…
  • NewsFinale Journal
  • October 8, 2025
'It's not a trend': Law enforcement responds to reports of ding-dong ditching
  • Local News

“Law Enforcement Addresses Recent Ding-Dong Ditch Incidents, Clarifies It’s Not Just a Trend”

SAVANNAH, Ga. () – Reports of the age-old prank known as “ding-dong…
  • NewsFinale Journal
  • October 7, 2025
Silent Witness Ceremony honors victims of domestic violence in South Carolina
  • Local News

Silent Witness Ceremony Remembers South Carolina Domestic Violence Victims

Columbia S.C. (WSPA) – Attorney General Alan Wilson (R – South Carolina)…
  • NewsFinale Journal
  • October 7, 2025
Dolly Parton not 'feeling her best,' sister says, asks for prayer
  • Local News

Dolly Parton’s sister shares that she’s not ‘feeling her best,’ requests prayers for her well-being

KNOXVILLE, Tenn. (WATE) — Dolly Parton’s sister took to social media Tuesday…
  • NewsFinale Journal
  • October 8, 2025
Scattered showers and thunderstorms tonight and early Wednesday
  • Local News

Evening and Early Wednesday Alert: Expect Scattered Showers and Thunderstorms

The Storm Team 11 Forecast calls for cloudy skies tonight along with…
  • NewsFinale Journal
  • October 8, 2025
California's Largest School District Bucks Dems, Adopts Ban on Trans Athletes in Girls' Sports
  • News

California’s Largest School District Defies Democrats by Banning Transgender Athletes from Girls’ Sports

California’s largest high school district has adopted a resolution that would ban…
  • NewsFinale Journal
  • October 8, 2025
After Lecornu’s fall, all eyes on Macron’s next move with France in political turmoil
  • Local News

With Lecornu Ousted, Focus Shifts to Macron’s Next Steps Amid Political Turmoil in France

PARIS – Outgoing French Prime Minister Sébastien Lecornu, aiming to calm the…
  • NewsFinale Journal
  • October 8, 2025
Watch Ben Affleck ask his 'darling' ex-wife Jennifer Lopez for a photo
  • US

Ben Affleck Requests a Photo from His Beloved Ex-Wife Jennifer Lopez

Ben Affleck and Jennifer Lopez demonstrated there are no lingering hard feelings…
  • NewsFinale Journal
  • October 8, 2025
NewsFinale Journal
  • Home
  • Terms and Conditions
  • Sitemap
  • DMCA
  • Advertise Here
  • Donate