The U.S. government has announced it will raise tariffs on imported steel and aluminum from 25% to 50% starting early June, a move expected to trigger widespread price hikes. Metal-packaged food and beverages—including canned goods, beer, and sodas—will be among the first affected, with the American Can Institute warning that increased packaging costs will inevitably be passed on to consumers. Major food companies have admitted that relying solely on domestic metal supplies is impossible, making product price increases likely.
The tariff hike comes as the U.S. struggles with persistent inflation, with housing, cars, and appliances already at record-high prices. Economists warn the policy could counteract the Federal Reserve’s efforts to ease inflation, further straining household budgets—particularly for low-income families.
While the policy aims to protect domestic steel producers, analysts argue it may backfire by provoking retaliatory measures from allies and undermining U.S. manufacturing competitiveness. Similar tariffs in 2018 cost the U.S. 160,000 jobs, raising fears of history repeating itself.
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