June 3rd, 2025
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President Trump decided to double the taxes on steel and aluminum from other countries. This could make food prices much higher for Americans. These materials are often used to package products, so many things we buy could cost more because of this 50% tax. A trade expert, Usha Haley, says these taxes could make costs higher for many businesses and hurt America's relationships with other countries. Trump said these taxes would help the US steel industry, but it might go against his promise to make food cheaper. The new taxes on steel and aluminum could affect many products, like canned food, beer, soda, and pet food. Robert Budway, who is the president of the Can Manufacturers Institute, warns that this could help foreign companies that sell canned food for less money than American farmers and food producers.
June 3rd, 2025
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