Steel Import Tariffs Could Affect Food Processing Industry
Steel Import Tariffs Announced
Last, week, President Trump announced new import tariffs on steel and aluminum that will likely affect the cost of cans and other packaging. Effective in 15 days the steel tariff will be set at 25 percent and the aluminum tariff at 10 percent, but neither will be applied to imports from Canada and Mexico. The White House has stated that there will be no significant downstream economic effects, but that is based on limited information and without knowing how other countries may retaliate with tariffs on U.S. exports. CLFP is working with the Can Manufacturers Institute and other stakeholders on this issue.
For more information about how these tariffs may affect the food processing industry may be found in this Food Dive article.