Shoppers will face higher costs for products like coffee, bananas, vanilla, and toilet paper as the Trump administration’s new tariffs on imports take effect, according to CNBC. The U.S. plans to increase tariffs on goods from over 180 countries, aiming to bring jobs back to America. The Consumer Brands Association warns that this could raise costs for essential ingredients and materials unavailable domestically. Items like coffee, cocoa, and tropical fruits are particularly vulnerable, as the U.S. climate limits their production. The CBA is advocating for exemptions on specific goods to keep prices affordable. For more coverage on tariffs and how they impact your portfolio, visit benzinga.com.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Shoppers will face higher costs for products like coffee,
00:05bananas, and vanilla, sorry.
00:07Shoppers will face higher, I'm gonna do it one more time.
00:09Shoppers will face higher costs for products like coffee,
00:12bananas, vanilla, and toilet paper,
00:14as the Trump administration's new tariffs
00:16on imports take effect, according to CNBC.
00:19The U.S. plans to increase tariffs on goods
00:21from over 180 countries, aiming to bring back jobs to America.
00:25The Consumer Brands Association warns
00:27that this could raise costs for essential ingredients
00:30and materials not available domestically.
00:33Items like coffee, cacao, and tropical fruits
00:35are particularly vulnerable,
00:36as the U.S. climate limits their production.
00:38The CBA is advocating for exemptions on specific goods
00:41to keep prices affordable.
00:43For more coverage on tariffs
00:44and how they impact your portfolio, visit Benzinga.com.
00:47For all things money, visit Benzinga.com slash GSTV.