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Diving Briefs:
- According to the Consumer Brands Association, the 50% tariff of imported steel imposed by the Trump administration can increase the canned price between 9% and 15%.
- Due to tariffs, consumers reduce the purchase of expensive canned products and the CPG company can be converted into a cheaper packaging alternative in the tin steel, and it is estimated that up to 20,000 US food manufacturing jobs can be in danger.
- Steel tariffs affect the number of products of food space, including sources, seafood, soup and vegetables.
Dive Insights:
As the White House doubled the tariffs between steel and aluminum, the CBA moved quickly to emphasize the negative effects that could be on manufacturing and consumer shopping habits.
The CBA mentioned that the CBA, including COCA-COLA, CAMPBELL ‘S Company and Del Monte Foods, has exceptions, although most materials and inputs are supplied in the United States.
The main is Tin Mill Steel. Domestic CAN manufacturers and canned food producers import almost 80%of data from foreign trade partners. Last week.
Conagra Brands CEO SEAN CONNOLLY in April, his company “No choice”, but to import most canned food packagingCFO DAVID Marberger last week’s tomatoes and Wendy’s chili makers We try to “relieve” higher costs For business data.
TOM MADRECKI, vice president of the CBA’s supply chain, said, “Unfortunately, the domestic steel industry does not produce tin -wheat steel with the quality or quantity we need.” The Trump administration must recognize the supply chain dependence and fine -tune the approach to protect all US manufacturers, workers and consumers.
A small number of other foods and beverage manufacturers warned that tariffs would affect their operation.
CAMBELL ‘S imports Tinplate Steel for can and canola oils, saying that trade leaders can reduce fiscal year from 3 to 5 cents. Coca -Cola in February, Sprite and Da Sani manufacturer You can switch some products sold in aluminum cans. In light of the new tariffs, the cost of input rises.