Why Your Favorite Canned Foods Might Cost More Soon! 🥫💰
Have you ever wondered how your favorite canned foods and fizzy drinks reach your table? 🥤 Well, here’s something that might surprise you! Some important changes are happening that could make these items cost more. Let’s find out what’s going on!
What’s Happening?
The President of the United States, Donald Trump, announced that he wants to put a special tax, called a tariff, on steel and aluminum coming into the country from other places. This tariff is 25% on steel and aluminum imports, and it will affect all countries. 🇺🇸➕💰
What Is a Tariff? 🤔
A tariff is like a tax that the government adds to products coming from other countries. This means that when companies in the U.S. buy steel or aluminum from other places, they have to pay extra money. 💸
Why Does This Matter?
Many companies in the U.S. use steel and aluminum to make things like cans for food and drinks. About 70% of the steel used to make cans in the U.S. comes from countries like Germany, the Netherlands, and Canada. 🌍
If companies have to pay more for steel and aluminum, they might have to raise the prices of the products they make. That means the canned soup or soda you love could cost more! 🥫🥤
What Are Companies Saying?
Robert Budway, the president of the Can Manufacturers Institute, says that without any exceptions to these tariffs, the prices for canned foods made in the U.S. are likely to rise. 📈
James Quincey, the boss of Coca-Cola, also warns that these tariffs could make canned drinks more expensive. He even mentioned that they might have to use more plastic bottles instead of cans if aluminum costs too much. 😮
What About Other Businesses?
The tariffs could also affect craft breweries—companies that make beer. According to the Brewers Association, about 75% of the beer from small breweries in the U.S. is sold in aluminum cans. If aluminum costs more, making these cans will be more expensive. 🍺
This means that small breweries and their customers might have to pay more. The Illinois Craft Brewers Guild warns that “our small brewery owners and customers will pay the price.” 💔
What Could Happen Next?
If these tariffs go into effect without any exceptions, many everyday items could become more expensive. This includes canned foods, sodas, and even some of your favorite snacks. 🙁
Companies are hoping for a solution that won’t affect their costs so much. In the meantime, it’s good to be aware of how these changes might impact us all. 🧐
Stay Informed! 📰
It’s important to keep an eye on news like this because it can affect our daily lives in ways we might not expect. Who knew that a government decision could change the price of our favorite canned soup? 🍲
Now you know a bit more about tariffs and how they can impact things we use every day! Share this information with your friends and family. 😊
Reference(s):
Who pays for tariffs? Price of canned goods in U.S. could rise
cgtn.com
