How New Metal Tariffs Could Impact Prices on Canned Food, Cars, and More

Veuer

A new 25% tariff on steel and aluminium imports could make a few things in your shopping cart more expensive. Veuer’s Maria Mercedes Galuppo has the story.

Transcript

00:00A new 25% tariff on steel and aluminum imports could make a few things in your shopping cart

00:06more expensive, according to the BBC.

00:08Here's what you might notice.

00:10Canned food, beer and soda.

00:11A lot of the steel used for food cans can come from places like Canada and Germany.

00:16So with tariffs in place, prices could go up.

00:19Plus, companies like Coca-Cola are warning that the cost of making cans could mean a

00:23price hike for your favorite drinks.

00:26Car manufacturers like Ford and GM are already expecting an extra $1 billion in costs, which

00:32could lead to an increase of about $300 per car.

00:35And if the tariffs expand to goods from Mexico and Canada, your car could cost a lot more.

00:40Other sectors likely to be affected are construction, housing and appliances.

00:45Steel and aluminum are key for construction and home appliances, so this could push up

00:50the cost of building homes or buying things like washing machines.

00:54Homebuilders are concerned it could make housing even less affordable.

00:57With these tariffs kicking in soon, you might notice some price increase at the checkout.

01:02Keep an eye out.

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