Why Bacon And Wine Might Soon Be More Expensive In Minnesota
You may have heard about tariffs and “trade wars” in the news as of late. If you’re like me, you definitely didn’t major in economics in college, so you may or may not fully understand what a “tariff” even is (it’s a tax on imported or exported goods).
After President Trump recently imposed a tariff on steel and aluminum (which is why canned beer could end up costing more), China today retaliated with implementing tariffs on 128 American food products. So what does this all mean to you, the person who likes eating tasty grub? That means due to these foods being taxed at a higher rate, they *could* end up getting more expensive at the grocery store. That includes:
- Frozen pork
- Fruits (apples, oranges, pineapples, grapes, watermelons, strawberries, etc)
- Over 100 other foods
All in all, 128 foods may be getting pricier if these ‘trade wars’ continue. The ultimate takeaway from this? You might want to give turkey bacon a try. I swear it's not that bad.
Source: Vice News