Kevin Hannigan, owner of the Produce Exchange at Midtown Global Market, says coffee prices are going up.<\/p>\n
\u201cA year ago, it cost us maybe $4.54, and now it costs $7.00,\u201d he notes. \u201cFrozen food, fresh food, coffee, you name it, it\u2019s going up.\u201d<\/p>\n
That\u2019s not all.<\/p>\n
Hannigan says fresh fruit, meat and even ginger from China are more expensive.<\/p>\n
He says initially, he thought the U.S. Supreme Court decision, striking down some of the Trump tariffs, might be a relief.<\/p>\n
RELATED: Trump has other tariff options after Supreme Court strikes down his worldwide import taxes<\/a><\/p>\n \u201cPer ounce, it could be dimes and quarters, I don\u2019t know, maybe a dollar here or there in some,\u201d Hannigan explains. \u201cOnce prices go up, and people are used to it, the decline might be just a little bit. Could go down 5% to 10%.\u201d<\/p>\n But now, shoppers say there\u2019s more uncertainty, with a new 10% tariff proposed by President Trump on Friday.<\/p>\n A study by the Tax Foundation says the Trump tariffs amount to an average tax increase of $1,000 per average household.<\/p>\n \u201cSeems like we\u2019re getting nickel-and-dimed into paying more all the time,\u201d says Andrew Fahlstrom, from Minneapolis. \u201cMy family buys less. The people around me are more stretched. We don\u2019t go out to eat as much.\u201d<\/p>\n A new poll shows a majority of Americans disapprove of how Trump is handling the tariffs.<\/p>\n But what about a timeline?<\/p>\n With the high court ruling, could prices fall, and if so, when?<\/p>\n \u201cSome of these could happen relatively quickly,\u201d says Tyler Schipper, an associate professor of Economics at the University of St. Thomas. \u201cA lot of this is going to depend on how quickly the government actually stops changing these tariffs when things are imported.\u201d<\/p>\n And the impact on Minnesota families?<\/p>\n \u201cUnfortunately, it\u2019s going to be a little bit limited,\u201d Schipper explains. \u201cThose wholesale prices are much cheaper than what you\u2019re actually seeing in the grocery store, and so, I think people should understand that the price drops at the grocery store, we\u2019re talking nickels and dimes, not dollars, for instance.\u201d<\/p>\n Some economic experts believe people will cut back even more if the 10% tariff becomes permanent.<\/p>\n Brenda Blakey says amid the tariff whiplash, she hopes some consumer prices will fall.<\/p>\n \u201cI\u2019m changing my habits and buying less, a lot less,\u201d she notes. \u201cI don\u2019t know if it\u2019s going to come about, but I hope it does.\u201d<\/p>\n \t\t\t\t\t\t\t\tFor Related Stories:\u00a0Richard Reeve<\/a>\u00a0\u00a0Shopping<\/a>\u00a0\u00a0Tariff<\/a>\u00a0\u00a0Tariffs<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Kevin Hannigan, owner of the Produce Exchange at Midtown Global Market, says coffee prices are going up. \u201cA…\n","protected":false},"author":2,"featured_media":481237,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[6479,28,101,6398,520,759],"class_list":["post-481236","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-tariff","tag-business","tag-economy","tag-richard-reeve","tag-shopping","tag-tariffs"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/481236","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=481236"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/481236\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/481237"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=481236"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=481236"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=481236"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}