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The company said rising costs for fuel, aluminum and agricultural commodities are to blame.
| Keywords | pepsicoinflationpricesnorth-americaeconomybusinesscost-of-livingfuelaluminumcommoditiesretailcorporate-newseconomicssupply-chain |
Canada is slapping new retaliatory tariffs on $20 billion of U.S. goods, while Americans are already paying more for groceries and gas. Mitch Landrieu, former senior advisor to President Biden, joins The Weeknight as voters continue to rank rising costs as a key issue.
President Trump said the U.S. would ban Canadian alcohol, some dairy products and large motorcycles, sharply escalating a trade war largely fought with tariffs . Why it matters: The measures deepen the economic rift between countries that have spent decades interlinking commerce, threatening disruption for businesses and consumers on both sides of the border. Zoom in: The import bans take effect Sept. 29, effectively cutting off U.S. market access for the targeted Canadian goods rather than simply making them more expensive. - Trump imposed the bans under Section 338 of the Tariff Act of 1930, which allows the president to bar imports from countries that maintain or increase discrimination against U.S. commerce. - The White House said…
MS NOW’s Stephanie Ruhle tells Morning Joe that, in the short term, retaliatory tariffs from Canada will not have a huge impact on the U.S. But in the long run, Ruhle explains an ongoing trade war with Canada “could be a disaster.” Canadian tariffs on roughly $20 billion in U.S. imports took effect early Tuesday in retaliation for U.S. tariffs on Canada put into place last month.