Tomato prices projected to increase
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American consumers could see a price hike and some restaurant owners may face shutting down, as a nearly three-decade-old US-Mexico trade agreement may give way to 20.9% tariffs on most Mexican tomato imports on July 14.
The U.S. just ended a decades-old tomato trade agreement with Mexico, and while prices could soon spike at grocery stores and restaurants across the country, one Stanislaus County farmer says not so fast.
The U.S. is pulling out of a three-decade-old tomato price agreement with Mexico. The move is to make way for a nearly 21% tariff on most Mexican tomato imports.
A trade agreement that kept Mexican tomato prices in check is about to lapse. Once it does, importers face steep tariffs — and costs may pass quickly to consumers. With supply tightening and demand peaking,
The U.S. government announced it’s placing a 17% tariff on most fresh Mexican tomatoes after negotiations ended without being able to avoid a tariff.
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The 17 percent duty that went into effect today jolts historic trade patterns and will likely raise prices by as much as 10 percent.