Wegmans Food Price Warning: Could Change Based On Tariffs

Wegmans said it’s preparing for potential impacts if the Trump administration’s tariffs on Canada and Mexico go into effect. In separate negotiations, Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum have agreed with President Donald Trump to pause planned tariffs for at least a month. Trump’s tariffs against China are still slated to go into effect on Tuesday. In a statement on Monday, Wegmans said that it anticipates that some prices would fluctuate if the tariffs eventually go into effect. Here is the statement:

“As we prepare for the imposed tariffs to go into effect, we are monitoring the potential impacts. While there’s still a lot to be learned, we anticipate prices on impacted products will fluctuate. We remain committed to keeping our prices competitive.”

Tariffs are taxes on imports. The American companies that import the goods pay the tax and the money goes to the U.S. Treasury. Economists say those companies typically pass on the tax burden onto their customers, in the form of higher prices.

Source: WHEC-TV