FMI Statement on Reciprocal Tariffs Announcement

Arlington, VA – Today, FMI – The Food Industry Association President and CEO Leslie G. Sarasin issued the following statement regarding the Trump administration’s reciprocal tariffs plan announced earlier today.

“We appreciate and support the Trump administration’s desire to protect American jobs, boost our manufacturing sector and lower grocery prices – goals we are committed to working with President Trump to achieve.

“While we have witnessed several positive steps that have reduced unnecessary regulatory burdens on our industry, we are concerned that today’s tariff announcement could bring rising prices, a squeeze on household budgets and reduced competitiveness for American companies relative to international competitors. The uncertainty and inflationary pressures created by reciprocal tariffs are a major worry for American consumers and our food industry member companies that operate on slim 1.6% retail and 7.5% food manufacturing net margins. 

“Our customers are apprehensive.  According to FMI’s March Grocery Shopper Snapshot survey, 54% of grocery shoppers cited increased tariffs on imported food as their biggest concern related to the price of groceries, a five-percentage point increase from January.

“Our food system is intricately linked with global markets − including products not grown in the United States like bananas or seasonal items − which helps keep prices down while providing American shoppers year-round access to safe, nutritious food.  

“As we navigate this new policy environment, we remain committed to being a source of information for the Trump administration about consumer sentiment regarding tariffs and other issues impacting the economy and grocery prices.”