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Economic Times
2 days ago
- Business
- Economic Times
Prices set to explode: Trump's tariffs could make your tomatoes cost more than steak — starting today
American consumers may soon face higher tomato prices due to new 20.9% tariffs on Mexican imports, potentially replacing a long-standing trade agreement. This could significantly impact restaurants and small businesses, with some fearing closure. While intended to protect US farmers from unfair competition, the tariffs are expected to increase consumer costs by 10% and decrease demand. Tired of too many ads? Remove Ads What's behind the sudden spike in tomato prices? Tired of too many ads? Remove Ads Are these tariffs really helping American farmers? What are the expected effects on tomato prices and demand? Why are Mexican tomatoes being targeted now? Tired of too many ads? Remove Ads What do Mexican growers have to say in response? How are restaurants and businesses dealing with the pressure? Could American farms fill the gap? FAQs If you thought your grocery bill was already high, brace yourself as tomatoes could be the next luxury item on your receipt. Prices are expected to rise across the United States as a result of new tariffs on Mexican imports, hurting restaurants, small businesses, and everyday shoppers in the produce aisle.20.9% tariffs on the majority of Mexican tomato imports could replace a nearly three-decade-old US-Mexico trade agreement on July 14, putting a strain on restaurants and raising grocery costs, as quoted in a report by tariffs on tomatoes are just one of the most recent instances of US President Donald Trump 's chaotic tariff policy. His tariffs have already disrupted international trade and left businesses unsure of how to prepare for the trade protections eroding and political tensions rising, American consumers may soon pay steak-like prices for tomatoes, and small business owners fear the worst as supply chains become unstable. Some small businesses may completely shut down as a result of higher to some US growers, the tariffs, which are intended to combat "dumping," or the practice of undercutting domestic products by selling cheap exports into a foreign market, are long may have to pay more for tomatoes at the grocery store, pizza place, and other of May 2025, US consumers paid approximately $1.70 per pound for tomatoes grown in the fields, according to the Bureau of Labor Statistics. These tariffs could result in a 10% increase in consumer tomato prices and a 5% decrease in demand, according to Timothy Richards, an agribusiness professor at Arizona State University, as quoted in a report by to the US Department of Agriculture, the United States is the largest market for Mexican tomato exports. The department concluded that the new tariffs would probably result in fewer tomato imports and higher prices in a report released in over three decades, Mexican producers have been illegally dumping tomatoes at unfair prices into the U.S. market despite five consecutive agreements, according to a statement released by Robert Guenther, executive vice president of the Florida Tomato Exchange, which CNN went on, "I believe the trade agreement has harmed American farmers."The Tomato Suspension Agreement, which has been in effect since 1996, establishes a floor for tomato the "current agreement has failed to protect U.S. tomato growers from unfairly priced Mexican imports," the Commerce Department said in a statement in April that it was leaving the agreement. The duties of 20.9% on the majority of Mexican tomato imports will follow from accusation is denied by Mexican tomato grower Walberto Solorio, president of the Baja California Agricultural Council, which represents more than 120 tomato to Solorio, minor violations by some Mexican producers haven't been enough to blow up the entire deal, he told a CNN producer."It's not a business issue, in my opinion; it's more of a political one," said Solario. "Everything suggests that, within reasonable bounds, the agreement should be upheld and that it has been carried out."Teresa Razo, the proprietor of two Argentine-Italian eateries in Southern California, stated, "I give it three months, and then we go bankrupt." She asserted that her business may fail if tomato prices increase due to new tariffs on the Mexican-grown and consumers are being greatly impacted by the tariffs on Mexican tomatoes, which are raising demand and driving up prices. While some businesses, like Appollonia's Pizza, are sourcing tomatoes from domestic growers, others, like Heinz and DiGiornio, are avoiding the tariffs by using tomatoes produced in the United some businesses might have to increase menu prices because not everyone can afford the expense of using Mexican tomatoes as is making an effort to purchase tomatoes from domestic growers, but she may have to increase menu prices if they are unable to locate US tomatoes in a timely manner. For her mental health, she has stopped watching the news every day and is waiting for the tariff to be to geographic diversity and technological advancements, American tomato growers are able to produce enough tomatoes throughout the year. If the agreement were to be terminated, Mexican producers would still be able to sell tomatoes in the United States, but they would have to abide by trade quarterly audits of Mexican imports have been conducted, and tariffs on essential ingredients like cheese have already increased costs and can cause problems in a high-stress tariffs could go into effect as early as July 14, predict that the tariffs will cause a 10% increase in consumer tomato prices.
Axios
2 days ago
- Business
- Axios
Tomato prices likely to jump as Mexico tariffs go into effect
U.S. tomato prices will likely rise as the country officially retreats from a longstanding trade agreement with Mexico. Why it matters: Americans buy a lot of tomatoes, and this tariff will likely affect the cost of everything from salsa to Caprese salad. Here's what to know: What is the Mexico tomato tariff? State of play: The U.S. Department of Commerce in April announced the termination of a nearly 30-year-old trade agreement between the U.S. and Mexico. "With the termination of this agreement, Commerce will institute an antidumping duty order on July 14, 2025, resulting in duties of 20.91% on most imports of tomatoes from Mexico," the department said in a statement. What they're saying: "Antidumping and countervailing duty orders provide American businesses and workers with a mechanism to seek relief from the harmful effects of the unfair pricing of imports into the United States," the Commerce Department said. "Foreign companies that price their products in the U.S. market below the cost of production or below prices in their home markets are subject to antidumping duties." Will tomatoes cost more for U.S. consumers? The other side: Many experts have said that the cost of import taxes are often shared by both the importer and the consumer. And "the trade dampening effects of AD duties persist over time," one 2020 study published in the Journal of International Economics found. By the numbers: The U.S. Agriculture Department estimated in June that Mexico's tomato exports would decrease 5% this year in response to the new levies. "It's possible that the price of tomatoes goes up for the short term," Agriculture Secretary Brooke Rollins told reporters this month. But in the longer term, ensuring "that our international partners are being fair and following the rules and ensuring that they're meeting their obligations is paramount." Consumer prices could jump by about 10%, Timothy Richards, a professor of agribusiness at Arizona State University, told CNN. Richards added that demand may fall by 5% as a result of the tariffs. Major U.S. tomato importer NatureSweet told Fox News that it may raise prices by nearly 10% when the trade deal ends. CEO Rodolfo Spielmann told Bloomberg News that, given the company's slim profit margins, "there's no scenario" where the company can "absorb those tariffs." Teresa Razo, owner of two Argentine-Italian restaurants in Southern California, told CNN that she gives it "three months" before her businesses go bankrupt. "Somebody that would dine out three times a week, maybe now they'll do it once or twice because we have to increase our prices," she said. Will the tomato taxes impact jobs? Andrew Muhammad, an agricultural policy professor at the University of Tennessee's Institute of Agriculture, told Bloomberg News that reducing imports is likely to eliminate tomato pipeline jobs.
Daily Mail
20-06-2025
- Entertainment
- Daily Mail
EXCLUSIVE Karaoke star who stunned stag do revellers with stunning version of Nessun Dorma says he's 'ecstatic and flabbergasted' after video went viral
A Karaoke star who stunned stag do revellers with his astonishing version of Nessun Dorma has said he is 'flabbergasted' after a video of the rendition went viral. Welshman Timothy Richards was recorded belting his heart out in Tallinn, Estonia where he gave the 'once in a lifetime' performance to a room full of Brits. Footage filmed in the Satumaa Karaoke Bar shows dozens of men brought to their feet by the powerful performance as they sing along to the iconic piece of Italian opera. But the most soul-stirring moment of all comes at the aria's climax where the partygoers raise their arms high in the air with whoops and cheers as Mr Richards perfectly hits the famous concluding note. Following the spectacular showing of May 11 this year, a video was finally uploaded last night - though it was only a matter of hours before it surpassed one million views and amassed thousands of likes. Speaking to MailOnline, Mr Richards, who currently lives in Germany but had been performing in Richard Wagner's romantic opera Lohengrin the night before in Estonia, said he had arrived at the karaoke bar in a group of six - having never previously been to one in his life. The singer said: 'I was in town at the same time as these guys - I didn't even know who they were. 'We had a few drinks and soon I was up. I enjoyed it. They [the revellers] all knew it that's why sang together. 'I just went with it. I left the building straight away and then sort of forgot about it - until today. 'I only heard about the video from children who use TikTok. I was ecstatic and flabbergasted to see the response and I am still pinching myself.' Mr Richards, who studied at the Royal Northern College of Music Manchester, made his professional operatic debut in 1998 as Alfredo in La Traviata for Welsh National Opera. The Tallinn stag do groom, Sam Stride, who Mr Richards is now in contact with, also recounted the memorable event which he described as the last night of his stag do. Mr Stride also told MailOnline he was now looking into the process of 're-uniting for the big day' with Mr Richards. He described the experience as a 'just a complete right time, right place'. 'It's not something you expect to see. I've seen Fulham get promoted and a lot of other big things. But this was better than all of that together. Mr Stride recalled the bar was 'pretty packed with British people'. He said people from the smoking area came 'flooding in' as the song was performed and the moment was 'pretty magical'. Following circulation of the video on X, a number of people commented to sing the praises of Mr Richards. Someone said: 'Cancel the wedding, it does not get better than this.' Another person added: 'Absolutely unreal.'
Yahoo
04-05-2025
- Climate
- Yahoo
Soggy South Central states: Intense downpours to renew flooding risk
Starting early this week, a rain-soaked pattern will expand throughout the South Central states, generating a risk for stream and river flooding across the region. While the most widespread threat is expected to be frequent downpours that can inundate roadways and allow already elevated streams and waterways to approach their banks, AccuWeather meteorologists warn that some locations will also face the threat of severe thunderstorms this week. Notable drought in place in Texas, Southwest Areas across southern and western Texas into New Mexico are in dire need of the rain, with levels of extreme and even exceptional drought currently being reported according to the U.S. Drought Monitor. A city like Midland, Texas, has only recorded just over half an inch of rain so far this year, which is roughly 20% of their historical average rainfall to this point. Any rain that reaches this corridor of West Texas will be beneficial given the parched conditions, but may runoff and struggle to be sufficiently absorbed by the hard and compacted soils. Farther east, there is no drought from the eastern suburbs of Houston to Little Rock, Arkansas, and New Orleans. Some of these areas are still reeling from the heavy Mississippi Valley rainfall over the last month or more that has trickled downstream, inundating low-lying areas and the southernmost watersheds across eastern Louisiana and western Mississippi. With repeat downpours in the forecast for much of this week, residents across eastern Texas and Louisiana are advised to monitor when the heaviest rounds may arrive. Intense and frequent rainfall could quickly spell trouble for travelers along portions of interstates 10, 20, 30 and the app? Unlock AccuWeather Alerts™ with Premium+ "The greatest flood risk is primarily due to stream and river flooding, given the notable rain that has fallen over the last few weeks. Areas most susceptible can include locations from Houston to cities in Louisiana like Lake Charles, Baton Rouge and New Orleans," explained AccuWeather Lead Storm Warning Meteorologist Timothy Richards. Rounds of heavy rain this week As a slow-moving storm advances eastward out of the Southwest and toward the western Gulf Coast states over the upcoming days, a wet and stormy pattern will grip the region. An influx of moisture flowing out of the Gulf will help to supply the region with rain and thunderstorms through at least Thursday, forecasters say. Showers and thunderstorms will begin to impact far eastern New Mexico and parts of Colorado by late Sunday, then will push eastward into the Texas and Oklahoma panhandles by Monday and Tuesday. While a widespread region will pick up anywhere from 1-2 inches of rain, amounts on the order of 2-4 inches will be possible from eastern Texas, southern Arkansas and Louisiana to central Mississippi. The AccuWeather Local StormMax™ for heavy rainfall through midweek is 8 inches. "This pattern can be a compounding issue with how much rain has fallen across the region lately, that the ground will already be fairly saturated and additional heavy rain will not be as easily absorbed," noted Richards. Want next-level safety, ad-free? Unlock advanced, hyperlocal severe weather alerts when you subscribe to Premium+ on the AccuWeather app. AccuWeather Alerts™ are prompted by our expert meteorologists who monitor and analyze dangerous weather risks 24/7 to keep you and your family safer.
