Trump’s Latest Tariffs Could Mean Higher Food and Drink Prices

By 1 month ago

The list of newly tariffed food and drink items reads something like this: French, Spanish, and German wine. Spanish olives. Parmesan. Stilton. Currant jelly. Beginning Oct. 18, these and other food items will be hit with a 25% tariff increase.

The expansive array of wines, cheese, produce, meat, and seafood imported to the United States from European Union countries is caught up in a trade war that has nothing to do with Irish butter or sweet biscuits from the UK (also getting a 25% tariff increase).

Price hikes on the foods covered by the new tariffs are only part of the story. Ripple effects could mean higher prices on other items at stores or in restaurants, as people up and down the food chain make up for the new costs.

After markups, retail prices for wine could go up as much as 40% on the shelves. French wines made up almost half of the wine one purveyor sold last year, and changes in inventory might have to be made if people aren’t wiling to pay higher prices.

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