Tariff grocery item: Salmon

Rich in omega-3 fatty acids, salmon is a favored protein choice for health-minded Americans. And Canada supplies 96% of salmon exports to our country. A 25% tariff on Canadian seafood imports could raise salmon prices by 10%. This means that if you now pay $10 per pound, the new price with the tariff would be roughly $11.

You might be wondering why there’s only a 10% increase in the cost of salmon when a 25% tariff is placed on it. Well, money experts say businesses might absorb some of the fees to remain competitive with pricing strategies, consumers, and exchange rates if our dollar strengthens against the Canadian dollar.

Tariff grocery item: Canola oil

With barbecue season coming in fast, you probably want to start using more oil to prep your grill for high-heat cooking. Well, brace yourself for a bit of a shock. The USDA reports that, as of 2022, 96% of the nation’s canola oil imports come from Canada.

And if you think that switching to olive oil is your solution, think again! A 25% tariff could eventually get slapped on European Union imports, and 78% of our olive oil is imported from Europe.