From Yahoo Finance: 2025-06-11 08:56:00

The 50% tariff on imported steel could raise canned food prices by 9-15%, risking 20,000 U.S. food manufacturing jobs. CPG companies may switch from tin-plate steel to cheaper packaging. The steel tariffs impact sauces, seafood, soup, and vegetables.

CBA warns of negative impacts on manufacturing and shopping habits as White House doubles tariffs on steel and aluminum. Tin mill steel is a major exception, with domestic can makers importing nearly 80% of the material.

Conagra Brands CEO says the company must import most canned food packaging due to the lack of U.S. tin plate steel. Campbell’s and Coca-Cola also anticipate negative impacts from tariffs, potentially shifting products to PET bottles instead of aluminum cans.

Read more: Trump tariffs could hike canned food prices up to 15%, trade group says