The Biden administration on Thursday announced new tariffs on can-making metal imported from China, Germany and Canada, a move that food companies say could lead to higher prices for some canned foods.
Chinese products would be subject to the highest tariffs of the three countries—a levy of 122.52% of their import value. That rate partly reflects Chinese companies’ refusal to cooperate with the investigation to prove their independence from the Chinese Communist Party, an administration official said.
The Consumer Brands Association, a trade group representing companies such as Campbell Soup and Fresh Del Monte Produce, estimated new tariffs, if applied aggressively, could raise the prices of canned food by up to 30%.
https://www.zerohedge.com/personal-finance/cost-soup-about-soar-even-higher-thank-president-biden
Source: Political Calculations
h/t Not Neo
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