There is a call for consumers to prepare by purchasing specific items in anticipation of the Trump administration potentially imposing new tariffs on goods from Canada and Mexico.
The situation between the United States and its neighboring countries, Canada and Mexico, has been marked by ongoing negotiations, with President Trump temporarily halting tariffs on certain products only to significantly increase them on others.
In a recent development, President Trump announced a substantial 50 percent tariff on Canadian steel and aluminum to take effect on March 12. However, he later mentioned he might ‘probably’ reconsider this decision.
Additional tariff increases are expected to be implemented on April 2. These tariffs will affect goods transported under the US-Mexico-Canada Agreement (USMCA), the region’s free trade pact.
Among the products that could be impacted by USMCA tariffs are televisions, air conditioners, avocados, and beef, according to BBC News.
President Trump also mentioned that the tariffs may still ‘go up,’ as reported by CNN.
In reaction to these tariff threats, Canada has removed American liquors from store shelves.
Liquor brands like Jack Daniel’s have expressed concerns over this decision, stating that removing its products from stores is ‘worse than a tariff.’
“It’s literally taking your sales away, completely removing our products from the shelves,” said Lawson Whiting, CEO of Brown-Forman, the company behind Jack Daniel’s.
As a precaution against these tariff hikes, consumers are advised to stock up on certain groceries, considering Canada and Mexico are major suppliers of food and drink to America.
The Department of Agriculture states that more than half of the fresh red meat in the US is sourced from Canada.
Canada also exports poultry and prepared meats to the US, which includes processed items like smoked sausage and cured ham, according to EatingWell.
The publication notes, “Canada is the largest exporter of seafood to the US, particularly when it comes to shellfish.”
Mexico is identified as the second-largest supplier of nuts to the US, following Vietnam.
For ground nuts, however, Mexico is the leading supplier to the United States.
Mexico and Canada, along with Guatemala and Peru, are recognized as top suppliers of canned legumes to the US.
Unlike fresh products, canned goods can be stored for up to five years, as noted by EatingWell, making them ideal for stockpiling.
In 2023, the US imported $11 billion worth of fruit from Mexico.
When considering vegetables, Canadian and Mexican imports amounted to $14 billion within the same year.
Given these developments, it is quite likely that these items will face increased prices starting April 2.