There is no known source for the billions of dollars that would be needed to complete the line.
, with levies threatened, addedin such a whiplash-inducing frenzy it’s hard to keep up. He insisted the latest tariff hike was necessary to “even further secure the steel industry in the U.S.”
That promise, though, could be at odds with his pledge to reduce food costs.Rising grocery prices, Trump has said,his way. A look around a supermarket makes clear how many products could be impacted by new taxes on steel and aluminum, from beer and soda to dog food to can after can of beans, fruit, tomato paste and more.
“It plays into the hands of China and other foreign canned food producers, which are more than happy to undercut American farmers and food producers,” insists Can Manufacturers Institute president Robert Budway. “Doubling the steel tariff will further increase the cost of canned goods at the grocery store.”Budway says production by domestic tin mill steel producers, whose products are used in cans, have dramatically decreased in recent years, making manufacturers reliant on imported materials. When those prices go up, he says, “the cost is levied upon millions of American families.”
Food companies were already warily assessing the administration’s tariffs before the latest hike. The Campbell Co., whose soup cans are a staple for millions of Americans, has said it was working to mitigate the impact of tariffs but may be forced to raise prices. ConAgra Brands, which puts everything from cans of Reddi-Whip to cooking sprays like Pam on supermarket shelves, likewise has pointed to the impact steel and aluminum tariffs have.
“We can’t get all of our materials from the US because there’s no supply,” ConAgra CFO David Marberger said at a recent Goldman Sachs conference on global staples.Police in the southern manufacturing hub of Guangzhou said they were led by a man named Ning Enwei on behalf of Taiwan’s independence-leaning Democratic Progressive Party but did not identify their alleged crimes.
Meanwhile, China’s government said all commercial contact had been banned with the Sicuens International Company Ltd., which it says are led by businessman Puma Shen and his father, calling the two men independence supports.Websites mentioning Sicuens say it specializes in sourcing bicycle parts from China.
Shen is also the head of the Kuma Academy, an organization that encourages Taiwanese people toThe DPP swiftly dismissed China’s accusations.