Paused Tariffs Create Uncertainty for Grocery Prices
As reported by WITN, President Donald Trump has agreed to pause tariffs on goods from Mexico and Canada, though the import taxes on China remain effective. Pitt Community College economics professor Jeff Glover warns that if these tariffs resume, they could significantly impact grocery store prices, creating greater stress for consumers.
According to Glover, “Prices respond pretty fast to changes in the market, so I wouldn’t be a bit surprised to see the prices a little faster on the grocery bill.” This sentiment echoes with shoppers in Greenville, where many are already feeling the pressure from rising food costs.
Mindred Hardy, a local shopper, expressed frustration, stating, “It’s hard now to buy food, quality food, and if the prices continue to go up what are we supposed to eat, how are we supposed to eat?” The recent pause in tariffs on imports, such as grain and livestock from Canada, remains a concern for those buying day-to-day groceries.
William Fodes, another shopper, notes that staples like pork, chicken, and steak are already too high, saying, “Porkchop, chicken, steak, ham… different foods, it’s too high.” Glover suggested that consumers may need to adapt by opting for lower-cost goods where possible to manage their budgets as prices start to climb.
He cautions, however, that this strategy might not be feasible for all items. Hardy’s worries reflect a broader concern about managing living expenses on fixed incomes: “If we are on a fixed income how are we gonna manage that and what are we supposed to eat?”
Glover indicates that once tariffs go back into effect, the impact on pricing might not be instant. Instead, it could gradually increase over several days, leaving shoppers and economists alike to brace for the potential economic repercussions.
According to WITN, paused tariffs on Canadian and Mexican goods may still affect grocery prices. Pitt Community College economist Jeff Glover claims prices will likely rise if these tariffs resume. Local shoppers, including Mindred Hardy, voice concerns about rising food costs. Glover suggests consumers substitute higher-priced items for more affordable options. Prices may gradually increase following the resumption of tariffs, creating uncertainty for households.
The potential effects of the paused tariffs remain uncertain, with economists warning of impending price hikes for groceries if the tariffs are reinstated. Local shoppers express their fears and frustration regarding the affordability of essential food items, reflecting broader economic anxieties about managing budgets amid fluctuating market conditions. Experts suggest that adaptation strategies may help mitigate these challenges.
Original Source: www.witn.com
