June 3rd, 2025
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President Trump's choice to double taxes on foreign steel and aluminum might make food at the grocery store much more expensive for Americans. Since these materials are often used for product packaging, many everyday items could be affected by the 50% tax. Trade expert Usha Haley warns that these taxes could increase costs for various industries and make relationships between the US and its 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 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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