US egg prices have hit an all-time high as Donald Trump’s tariffs went into effect on Tuesday. The 25% levy on Canadian and Mexican goods, combined with a 10% hike on Chinese imports, has sparked widespread concern among American consumers.
Egg prices, in particular, have seen a significant jump, with the cost of a dozen rising to $8.42 in Chicago. However, experts warn that this is just the beginning of a long road, with the current cost of eggs expected to rise by more than 40% by the end of the year.
The Agriculture Department has announced a $1 billion investment to tighten biosecurity measures on American farms amid an avian flu outbreak, but critics argue that regulations need to be stripped from the egg industry to alleviate the crisis. Canadian Prime Minister Justin Trudeau warned that Americans will share the brunt of the tariff costs, citing job losses and higher prices for everyday essentials.
The tariffs are part of a broader trade strategy aimed at affording an extension to Trump’s 2017 tax plan, which benefits corporations but is projected to add $15 trillion to the national deficit. However, experts argue that this strategy will ultimately harm American consumers and its allies abroad, while benefiting US adversaries around the globe.
Source: https://newrepublic.com/post/192286/donald-trump-tariffs-egg-prices-all-time-high