TAMPA, Fla. — President Donald Trump recently rolled back tariffs on more than 200 food products, including beef, coffee, bananas and orange juice. The move comes amid rising consumer prices for many of these everyday items.

What You Need To Know

According to the Consumer Price Index, ground beef is now 13 percent more expensive than this time last year, while steak prices have jumped 17 percent

At Heights Meat Market in Tampa, staff say the rising cost of beef has made it feel like a luxury item

Economics professor at the University of South Florida says several broader economic forces are also at play

According to the Consumer Price Index, ground beef is now 13 percent more expensive than this time last year, while steak prices have jumped 17 percent — the largest increases in more than three years. The administration hopes that lifting tariffs will help stabilize the market and eventually bring prices down.

At Heights Meat Market in Tampa, staff say the rising cost of beef has made it feel more like a luxury item than a household staple.

Kyle Casper, a manager at the shop, said the business brings in products from the U.S. and around the world, including Australia, New Zealand, Canada and Japan.

Casper said higher prices stem from a combination of factors: strong demand, tariffs, and a shrinking supply of cattle due to drought, disease and slow herd repopulation. Heights Meat Market has seen a slight decline in sales, and the business works to absorb as much cost as possible to keep prices steady.

“We have bundle packages that we put at a higher discount than usual to not only help us but our customers as well,” Casper said.

Michael Snipes, an economics professor at the University of South Florida, said several broader economic forces are also at play. He points to inflationary pressures and recent actions by the Federal Reserve, noting that global commodities, including beef, can be affected by interest rate changes.

Snipes said consumers could begin seeing price relief within the next week or two, though the extent of any drop is unclear.

Casper hopes the market eventually stabilizes. “It’s hoping that in the future they kind of level off on each other and bring those prices back down to what we are used to,” he said.

He believes lower prices would benefit both the business and consumers already facing higher costs across many industries.