Trump’s tariffs could hike canned food prices, trade group warns
The Consumer Brands Association has warned canned food prices could increase between 9% and 15% because of Trump’s 50% tariffs on imported steel.
The CBA has highlighted the negative impacts the doubling of steel and aluminium tariffs could have on manufacturing and consumer habits.
The trade group, whose members include Coca-Cola, The Campbell’s Company, and Del Monte Foods, also said around 20,000 US food manufacturing jobs could be at risk.
“Unfortunately, the domestic steel industry does not produce tin mill steel in the quality or quantities needed by U.S. can makers,” Tom Madrecki, vice president of supply chain resiliency at CBA, said in a statement.
“The Trump administration should fine tune its approach to recognise supply chain dependencies and protect all U.S. manufacturers, workers and consumers.”
The Can Manufacturers Institute also warned that the tariffs could give foreign canned food producers in Asia the opportunity to undercut US-based producers.
“The tariffs are a food security issue,” said Scott Breen, president of CMI.
“We want to be able to manufacture cans here and fill them with food grown in the US. The tariffs create an unnecessary cost that someone has to bear: the can maker, the retailer, the brand and the consumer.”