[Canada Lahoo.ca - Summary by Jiang Liqie] After taking office, US President Trump quickly initiated a series of dazzling negotiations. While his tariff policies almost simultaneously "declared war" on various countries, whether they were major powers, minor powers, former allies, or enemies, he was undermining his own negotiation position.

At present, many Americans expressed pessimism about the future economy. According to two new public opinion polls on Wednesday, most Americans disapprove of Trump's trade policies.

Photo credit: AP

According to a survey conducted by the Pew Research Center from April 7th to 13th among 3589 people, 55% of American adults stated that they do not trust Trump to make correct decisions regarding economic policies.

Previously, Ipsos conducted another survey and found that only 37% of Americans approve of Trump's economic strategies.

Under Trump's "Tariff War," Food Prices Surge

The latest food inflation report released by Loblaw repeatedly mentioned "tariffs" and how they caused some food prices to rise.

For Canadian shoppers, the good news is that the price of olive oil has fallen significantly over the past year. The bad news is that almost everything used for cooking with it has become more expensive.

Photo credit: Canadian Press

Loblaw operates more than 2400 supermarkets across Canada, including Loblaws, No Frills, Shoppers Drug Mart, and Real Canadian Superstore. Its April food inflation report was released following the latest monthly announcement by Statistics Canada. This announcement indicated that the consumer price index (an inflation indicator calculated based on household regular purchase prices) rose by 2.3% year-over-year in March.

Statistics Canada also reported that supermarket food prices increased by 3.2% in March, higher than 2.8% in the previous month.

In April, Loblaw's report listed price increases for many supermarket foods, including chicken breast, pork and beef, coffee, and eggs. With the exception of olive oil, the prices of these foods are higher than they were a year ago.

At the top is the price of American eggs, which remains 65.3% higher than a year ago, although this figure fell by 19% in the last quarter. Loblaw pointed out that while Canadian egg prices remain relatively stable, "Canada is a net importer of liquid eggs from the United States, and costs have increased significantly."

Besides, "the biggest impact will be seen in baked goods such as muffins, cakes, and cookies."

Secondly, coffee. The price of Arabica black coffee has risen by 65% compared to a year ago, increasing by 6.6% in the last quarter.

The report noted, "Supply tightness in 2024 means coffee prices will continue to fluctuate." "US tariff policies on coffee-growing countries recently led to a slight sell-off, then rebounded when tariffs were suspended."

This brief report mentioned the word "tariff" more than a dozen times. Regarding coffee, Vietnam is the second-largest producer of coffee beans after Brazil, and many US coffee producers buy beans from Brazil.

However, a 46% tariff on Vietnamese imports may increase costs; a 25% tariff on goods entering Canada from the US may also increase costs. "Previously, spending $1 on coffee would now cost more than $1.82 due to tariffs."

Photo credit: CBC

So, the coffee price hike is not accidental. Some Canadian netizens even exclaimed that Trump intentionally targeted the economy.

Photo credit: x

Loblaw's chart shows the year-over-year (YOY) and quarterly (QOQ) price changes for various items:

Photo credit: Loblaw

Tariffs continue to affect inflation, challenging supermarkets while reducing consumer confidence. Although Canada's anti-tariff measures had little impact on food prices in March, higher prices will begin to appear on shelves as supermarkets sell off existing inventory.

The situation with meat is also not good. The report noted, "In the past few months, pork prices have risen with demand." "Chicken prices remain high under ongoing supply challenges."

In the last quarter, beef prices rose by 17.3%, chicken breast by 25%, and pork by 36.5%.

The good news is that olive oil prices have dropped nearly in half compared to a year ago, and by 3.2% compared to the previous quarter.

The rising food prices burden ordinary consumers. For Canadians, Trump's "crimes" list has grown longer.

Source: National Post, CBC, etc.

Original article: https://www.toutiao.com/article/7496654216899854902/

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