• Trace One
• 2024-11-27
• Trade Show News
• (0)

Trade wars and dinner tables: Which foods make the most

A new study from Trace One identifies the potential impact of import tariffs and shortages of foreign goods on U.S. food supplies. Also read: “US importers to face tariffs regardless of election outcome” Donald Trump's recent plan to impose 25% tariffs on imports from Mexico and Canada, and an additional 10% on goods from China, could have a significant impact on American consumers. The three countries together supply nearly half (45%) of U.S. food and beverage imports, making everyday staples more vulnerable to rising prices. Currently, nearly one-fifth of the U.S. food supply is imported from abroad, and the average American household spends nearly 14% of its annual budget on food and beverages. For many, this is already a burden—28% of U.S. adults report difficulty affording food, and 13.5% of households are classified as food insecure, meaning they cannot reliably obtain adequate nutrition. To better understand the potential impact of import tariffs and shortages of foreign goods on the U.S.…