President Donald Trump’s blanket tariffs scheduled to begin on Aug. 1 could soon bring higher prices on certain foods, according to some experts.
Tariffs are a tax imposed by foreign nations, paid by domestic companies that import goods or services. U.S. consumers are expected to pay higher prices via companies negatively impacted by the trade policy.
One of the goals of Trump’s tariffs is to drive demand for American products. But certain items, such as Brazilian coffee, aren’t produced domestically. Other imports, like bananas, have limited U.S. production, which wouldn’t meet American demand, according to a Tax Foundation analysis published Monday.
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