U.S. Slaps 17% Tariff on Mexican Imports
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According to several studies, about 70 - 86% of U.S. tomatoes come from Mexico, and the USDA says the U.S. takes in nearly 93% of the tomatoes Mexico exports. This means the majority of tomatoes in the U.
Although the price of a bunch of tomatoes may only increase by a few dozen cents, the increase comes at a time when consumers are already sick of inflation, and when tariffs threatened by the Trump Administration could further drive up prices, he says.
The 17 percent duty that went into effect today jolts historic trade patterns and will likely raise prices by as much as 10 percent.
The price of tomatoes could soon be going up, and finding them at the grocery store could become more difficult due to a combination of new tariffs and labor shortages.
The U.S. ends a nearly 30-year-old trade agreement with Mexico this month. Here's how it could impact the cost of this kitchen staple.
TIME RIGHT NOW IS 614 NEW TARIFFS ON SOME OF THE BIGGEST U.S. TRADING PARTNERS TAKE EFFECT TODAY. ALSO IN A FEW WEEKS, AND THE PRESIDENT SENT LETTERS TO THE EUROPEAN UNION AND TO MEXICO WARNING THAT 30% TAXES ON EXPORTS TO THE U.
President Donald Trump expanded his tariff threats over the weekend, calling for 30% levies on two of America’s largest trading partners: the European Union and Mexico.