The Trump administration’s new tariffs have taken effect, prompting concerns from both consumers and businesses about potential financial impacts.
Imagine heading to the grocery store to pick up some tomatoes and avocados. These items, often imported from Mexico, now face a 25% tariff. This added cost could be passed down to consumers at checkout, potentially increasing the price of an avocado from $1 to $1.25.
It’s not just produce that’s affected. Your favorite beer could see a price increase from about $19 for a 12-pack to approximately $23.
Jean Hitchins expressed her frustration, saying, “I am very upset that this has been put into place. I think it is counterproductive. It makes me wonder what the end game is.”
Rising costs and a slowdown in business have already forced one local shop to shut down. The owner of On the Rise in Grandin announced the shop will close its doors this Saturday.
Owner Zac Bigart shared his concerns about the tariffs’ impact on businesses like his. “Yeah, the more it costs us, the more it costs you, and if you don’t have no monies, then we don’t have no monies… And you can’t keep going,” he said.
People in the area are worried about the potential price increases on everyday products. Jean noted, “The main group of citizens will not be doing very well, and I can’t imagine anyone convincing me that I would be doing better under these circumstances.”
Economists caution that the full impact of these tariffs will take time to unfold. Virginia Tech economist Jadrian Wooten explained, “Food first, cars later, electronics later, but it’s just a question of how much later that actually happens.”
Some farmers are also raising concerns about the tariffs. The American Farm Bureau Federation issued the following statement:
“Farmers support the goals of ensuring security and fair trade with other nations, but additional tariffs, along with expected retaliatory tariffs, will take a toll on rural America.”
“Farmers and ranchers are concerned with the decision to impose increased tariffs on imports from Canada, Mexico and China - our top trading partners. Last year, the U.S. exported more than $83 billion in agricultural products to the three countries.”
“Approximately 85% of our total potash supply – a key ingredient in fertilizer – is imported from Canada. For the third straight year, farmers are losing money on almost every major crop planted. Adding even more costs and reducing markets for American agricultural goods could create an economic burden some farmers may not be able to bear."
“We ask the president to continue working with our international partners to find ways to resolve disagreements quickly, so farmers can focus on feeding families in America and abroad.”
Zippy Duvall, American Farm Bureau Federation President