(CNN) US tomato prices could jump as soon as Monday
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No, this is not some general economic prediction of some economist concerning generalized inflation due to on-again, off-again, maybe, maybe-not, tariffs
It appears a 21% tariff, specifically & exclusively on Mexican tomatoes, will go into place at 12:01A.M. tonight.
It's little known, and kinda' quirky, but apparently the U.S. & Mexico have been party to something known as the - get this - "Tomato Suspension Agreement"! For the past three decades!
It appears in April, the Trump Administration has decided to unilaterally withdraw us from this agreement. This will result in an immediate 21% tariff going into effect on Monday (14 JLY).
So perhaps with this little niche tariff occurring, we will finally see what amount of tariffs get passed on to the American consumer. Wholesalers are indicating they will have to pass-on a minimum of 10%.
I suppose we shall very soon see. I see this as the "Canary in the Coalmine", for what future tariffs may bring if ever duly applied.