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According to a survey data collected by the Food Industry Association (FMI), food shoppers are worried that the Trump administration’s tariffs on imported products will cause higher prices in supermarkets.
While consumers are about to tremble, they believe that they maintain their ability to control spending on food. Andy Harig, vice president of FMI’s tax, trade, sustainability and policy development, speeches on Tuesday during a briefing for journalists, and according to the organization’s study, shoppers said, “We are exploring this environment with many agility.”
Nevertheless, the FMI said that retailers and suppliers are worried that the rise in price on prices can affect people’s spending. But the latest inflation figures suggest that tariffs have not soared so far, Harig said.
The US Labor Statistics Bureau said that on Tuesday, the price of groceries rose from 2.4%in June to 2.2%in July. Compared to the previous month, the price has fallen as part of the percentage point in July. In contrast, overall inflation increased 0.2% every month in July, but the indicators remained at 2.7% per year.
HARIG says that FMI supports efforts to reduce red tapes for companies in the Trump administration, while the organization is concerned that the president’s tariffs will have a negative impact on grocery shoppers. More than half of the respondents who participated in the FMI’s US grocery shopping trend survey in August pointed out tariffs as a major concern related to food costs, he added that FMI was the highest FMI recorded since President Donald Trump took office.
FMI cooperates with federal officials to create an exemption process that excludes (imported) foods that are not helpful for the US industry, such as cocoa, cinnamon and bananas.
Harig said, “We applaud the policy movements that mitigate regulatory burdens and relieve economic growth, while we are also keeping mind that we can derive upward pressure and price when we still have a wide range of tariffs to recover from the challenge of inflation.
Ricky Volpe, an associate professor of Agribusiness at California Polytechnic State University, is relatively muted in recent months, despite Trump’s tariffs during the briefing, while disease and bad weather conditions affect harvest. He pointed out that the price could rise due to bad weather conditions. For example, he pointed out that lettuce prices are rising due to the onset of bacteria that pushed the yield to two fifths.
“I think it’s very important to keep in mind that these tariffs don’t happen in the laboratory, and they are likely to worsen some of other problems that do not occur in vacuum and affect US food prices and food productivity.
He added that severe energy prices and lack of workers could affect food prices.
“Many food companies, from production and harvesting to retail, have too low solubility in labor and too high turnover, so labor is an effective restriction that affects the productivity and production of these companies.”
Harig and Volpe pointed out that tariffs on products such as aluminum and steel could raise food prices for the next few months. Because these products play an essential role in how foods are packaged, the supply chain is gradually passing the supply chain.
Volpe said, “Today’s supermarket shelf products have a high possibility of packaging and processing using inputs that are not applied to tariffs, and () food manufacturers will have to update trucks, additional animals, equipment, and capital machines.” You can see the filtering. “
