Many food items are poised to get dramatically more expensive as President Donald Trump’s wave of tariffs take effect.
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If you’re retired, and, like most of your peers, living on a fixed income, it’s critical to get ahead of the inflationary effect tariffs will have on imported goods, including grocery items.
The following six pantry items are poised to see big price spikes in the U.S., so retirees should stock up on these foods ASAP.
Chocolate/Cocoa
In many houses, chocolate, whether it’s in the form of powdered hot cocoa or candy bars, is hardly anything short of an essential. Unfortunately, cocoa products — which have already been getting more expensive in recent years because of climate-related crises in key areas of production — will get even more expensive as a result of tariffs.
Cocoa beans are the core ingredients in chocolate, and they’re mostly grown in part of West Africa and Latin America, which will be subject to reciprocal tariffs.
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Various Nuts
A handful of the most popular nuts in the U.S., including cashews and pecans are exported from Vietnam, which could be slapped with a 46% tariff if it does not reach an agreement with the U.S. by Jul. 8.
Macadamia nuts could also see price hikes; though many are produced here, a portion is grown in Australia, which has been hit by the U.S. with a 10% baseline tariff.
Olive Oil
Tons of olive oil we buy in the U.S. is made in other countries, including Argentina, Algeria, Chile, Morocco, Turkey and Uruguay, which each face a baseline 10% tariff. The olive olive oil we get imported from Tunisia, will get even pricier, as Tunisia is subject to a 31% tariff. Olive oil from Israel will also get substantially more expensive in light of the 17% tariffs on Israeli exports.
Wine
California is a massive producer of wine, but a lot of the wine we buy isn’t made on American soil. Italy and France each produce more wine than the U.S., and we’ll see those bottles impacted by the 20% “reciprocal” tariff on all imported goods from the European Union (EU), if and when that takes effect.
Spices
What’s a well-rounded pantry without a ton of different spices? Make sure you’re stocked up here, as droves of spices are poised to get pricier when tariffs fully hit. China is a major exporter of garlic, ginger and star anise. And then there’s Mexico, another target of President Trump’s tariffs, which is a main exporter of spices like chilies, cumin and oregano.
Coffee
Much of the coffee we drink is made from beans exported from Central and South America and Costa Rica. All have been hit with Trump’s 10% tariffs. It’s time to buy coffee beans in bulk.
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This article originally appeared on GOBankingRates.com: 6 Pantry Items Retirees Should Stock Up on Now Before Tariffs Kick In
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