Trump, Mexico and European Union
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The U.S. just ended a decades-old tomato trade agreement with Mexico, and while prices could soon spike at grocery stores and restaurants across the country, one Stanislaus County farmer says not so fast.
The Trump administration is adding a 17 percent tariff to a year-round grocery store staple, while funneling more business to domestic tomato growers, largely in Florida.
Businesses typically pass tariff costs onto consumers through higher prices. Sometimes, that process is less subtle.
If a 30 percent tariff on Mexico goes into affect on August 1, a wide variety of foods will be more expensive, experts warn.
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The Texas Tribune on MSNTexas lawmakers urge Trump to extend tomato trade agreement with MexicoThe 1996 agreement is set to expire Monday, which could raise the price of Mexican tomatoes and threaten thousands of Texas jobs.
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If implemented, Trump's new 35 percent duties will be "separate from all Sectoral Tariffs," such as the 50 percent tariff on steel and aluminum imports. Trump also promised that, if Canada raises its own tariffs in response, then "whatever number [Canada chooses] to raise them by, will be added onto the 35% that [the U.S. charges]."
Philip DeFranco on MSN4d
President Musk Shutdown Scandal Is Getting Crazier, President's Mexico & Canada Tariffs Now Paused,President-Musk shutdown scandal keeps escalating. Meanwhile, President’s tariff moves toward Mexico and Canada just got paused.