A trip to the grocery or liquor store is about to become even more expensive, economists say, following the latest round of import tariffs announced by President Trump on Wednesday. Those tariffs — taxes paid by businesses on goods from abroad — come on the heels of a previous round aimed specifically at Canada, Mexico and China.
Prices for items such as seafood, coffee, wine, nuts and cheese are all expected to rise. And if you’re tempted to grab a candy bar while you’re in the checkout line, you’ll probably have to pay more for that as well.
Food industry analyst Phil Lempert, also the editor of supermarketguru.com, estimates that with the latest tariffs “probably almost half of the products in a supermarket — about 40,000 products — will be affected by these tariffs, whether it’s the entire product or just an ingredient.”
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