Trump's threat to impose tariffs could raise prices for consumers, colliding with promise for relief
The IndependentFor free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. For instance, the Produce Distributors Association, a Washington trade group, said Tuesday that tariffs will raise prices for fresh fruit and vegetables and hurt U.S. farmers when other countries retaliate. The tariffs would hurt U.S. industrial production so much that “we expect this is unlikely to happen in practice,” Roeska said. If talks failed and the duties were imposed, all three countries would likely retaliate by putting tariffs on U.S. exports, said Reinsch, who believes Trump's tariffs threat is a negotiating ploy. Longer term, Mary Lovely, a senior fellow at the Peterson Institute for International Economics, said the threat of tariffs could make the U.S. an “unstable partner” in international trade.