June 3rd, 2025
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President Trump's decision to double taxes on foreign steel and aluminum could make groceries much more expensive for Americans. These materials are commonly used in product packaging, so many consumer goods could be affected by the 50% tax. Trade expert Usha Haley warns that these taxes could increase costs for different industries and make it harder for the US to have good relationships with its allies. Trump has said that these taxes are meant 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 goods, drinks, and pet food. Robert Budway, who is the president of the Can Manufacturers Institute, warns that this could help foreign companies that make canned food and are willing to sell their products for less than American farmers and food producers.
June 3rd, 2025
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