June 3rd, 2025
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President Trump's decision to double taxes on foreign steel and aluminum could make food much more expensive for Americans. These materials are often used to package products, so many everyday items could be affected by the 50% tax. Trade expert Usha Haley warns that these taxes could increase costs for many different industries and make relationships with US allies difficult. Trump has said these taxes are to protect the US steel industry, but this might go against his promise to lower food prices. The new taxes on steel and aluminum could affect many products, such as canned food, drinks, and pet food. Robert Budway, who is the president of the Can Manufacturers Institute, warns that this could help foreign canned food producers who sell their products cheaper than American farmers and food producers.
June 3rd, 2025
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