U.S. Trade Relations Strained

ZISK
Feb 19
1 min read

Love is in the air. And while folks across the country may be looking forward to preparing a special date night dinner for their sweetheart this Valentine’s Day, that romantic meal may take a bite out of their budget. Grocery prices rose 0.5% in January compared to prior month, according to data published this week by the Bureau of Labor Statistics. However, couples that celebrate by going out to eat are likely to see a more modest price increase. Restaurant prices were only up 0.2% for the month, though menu prices are still 3.4% higher than at the same time last year.

Price relief doesn’t appear imminent, especially as the Trump administration revealed several new actions this week, further straining U.S. trade relationships. On Monday, the administration announced an expansion of steel and aluminum tariffs in a bid to reduce the trade deficit and protect domestic industry. As of mid-March, both steel and aluminum imports will face a 25% tariff and previously exempted partners such as Canada and the European Union will lose their privileged status.

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