June 3rd, 2025
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President Trump's choice to double taxes on imported steel and aluminum might significantly increase grocery prices for Americans. This is because these materials are often used in product packaging, so many consumer goods could be affected by the 50% tax. Trade experts like Usha Haley warn that these taxes could raise costs in various industries and put a strain on the US's relationships with its allies. Trump has stated that his recent taxes are intended to protect the US steel industry, but this might go against his promise to lower food costs. The new taxes on steel and aluminum could affect many products, such as canned goods, beverages, and pet food. Robert Budway, president of the Can Manufacturers Institute, is concerned that this could give foreign canned food producers an advantage over American farmers and food producers.
June 3rd, 2025
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