11 Foods Getting More Expensive With Sweeping Tariffs
Americans have been anticipating serious price hikes on everyday goods for months due to President Donald Trump’s tariffs. According to experts, it is now time to brace yourself: Prices are about to go up on everything from your favorite candy bars to wine and spirits. According to the International Chamber of Commerce, the third quarter will likely hold a lot of price increases, as many companies have sold off the U.S. stockpiles built up ahead of the new duties. “You could expect it to bite at the end of Q3,” Andrew Wilson, International Chamber of Commerce deputy secretary general, told Reuters about when the inventory will be sold off, anticipating the fourth quarter will be when prices soar. Here are 11 foods getting more expensive with sweeping tariffs.
Reese’s Peanut Butter Cups
No, it’s not your imagination: Candy is getting more expensive. Cocoa costs have increasedby over 165% in two years, so Hershey is raising prices. t. It said its price adjustment with retail customers is unrelated to tariffs or trade policies but reflects “the reality of rising ingredient costs including the unprecedented cost of cocoa.” For years, “we’ve worked hard to absorb these costs and continue to make 75% of our product portfolio available to consumers for under $4.00, ensuring that Hershey treats stay accessible and affordable for families everywhere,” the company added.
Clif Bars
According to NBC News, Mondelēz has also confirmed that price increases are coming soon. These are also the result of tariff-driven increases in ingredient and packaging costs pushing prices higher.
Oreo Cookies
Mondelēz says rising raw material prices, especially cocoa, and new tariffs are forcing a price adjustment. Oreo Cookies is one of the main products to be affected by incremental pricing in the coming months. “We are clearly at a point in time where we see inflation going up,” Chief Financial Officer Luca Zaramella said.
Ritz Crackers
Like Oreos, Ritz Crackers, another popular product from Mondelēz, will see higher shelf prices as the company passes along added costs.
Bounty Paper Towels
Procter & Gamble is hiking prices on paper goods due to new tariffs and cost inflation. The company recently announced price adjustments on about 25% of its products in North America, adding that price hikes, roughly 2.5% will go into effect in the next few months. “These adjustments reflect a mix of factors, including higher raw-material and supply-chain costs, investments in product innovation and the impact of recently announced tariffs,” a spokesperson said.
Tide Detergent
Another popular P&G product category is expected to increase in price: Laundry products like detergent and fabric softener. Tariff-related cost increases will impact Tide Detergent.
Imported Cheese
As most cheese is imported from Europe, steep tariffs on European goods are expected to increase the cost of imported cheeses.
Chocolate Candy Bars
Like Reese’s, other companies will be forced to increase the price of chocolate products, including candy bars. This is because cocoa prices have skyrocketed more than 165% over the last two years.
Frozen Meals
Conagra, a consumer packaged goods company, has warned that tariff impacts could raise packaged food costs by over 3%. This includes frozen meals by their labels like Healthy Choice, Marie Callender’s, and Birds Eye.
Wine and Spirits
Wine and spirits are also expected to increase, as many of these products are important. New EU and South American import tariffs will raise costs on your favorite wine and liquor products.
Snack Cakes and Pastries
And expect snack cakes and pastries to go up in price. Tariffs on ingredients and packaging are hitting baked goods with upcoming price hikes.
