New tariffs, reaching up to 50%, are set to increase costs on imported spices from over a dozen countries lacking U.S. trade deals. Key spices, such as black pepper, vanilla, and cinnamon, which cannot be grown domestically, are directly affected, likely leading to higher consumer prices as a result of higher manufacturing costs.
Key Takeaways
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Tariffs will raise prices on key imported spices.
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Domestic production isn’t likely to increase.
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Smaller businesses face greater challenges absorbing costs.
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