By Timothy Inklebarger
Source: Supermarket News
Retail operations across the nation were scrambling on Monday to address the impacts massive tariffs on Canada, Mexico, and China will have on their business.
Both the grocery industry and its customers were working to make sense of the trade war waged against the U.S.’s biggest trade partners.
Grocery Industry analyst Phil Lempert told Supermarket News that if the tariffs are enacted — that’s 25% for Canada and Mexico and 10% for China (above China’s pre-existing tariffs) — “it’s going to decimate our food world.”
Lempert noted that 63% of produce and 47% of fruits and nuts consumed in the U.S. come from Mexico. Lempert added that more than a third (34%) of meat consumed here and 60% of crude oil used comes from Canada.
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