The price of food and other basic commodities will soon rise in many places around the world. What are some commodities that are produced domestically or will remain inexpensive where you live? What do you expect will become more expensive? Please include your country of origin or region of the world in your reply.
Take all this for a grain of salt I’m at work and didn’t have time to verify these numbers. I got them from AI, but the order makes sense. They also don’t include secondary and tertiary effects. E.g. what tariffs on China will do to goods imported from Japan.
In the United States, corn, soybeans, and wheat are projected to go up a maximum of 5%. We produce upwards of 40% of those goods, so they will be the ones which will impact other countries the most. Meat will go up more. We domestically produce 12-15% of the world supply of pork and beef. Produce is going to be hit badly. Up to 40%.
Gasoline and other fossil fuels is difficult to determine. We import a lot from other countries, directly from Canada, but companies based out of the United States have off shore drilling rights in locations around the world. Increased costs of fossil fuels, may have increased incentive for renewables and nuclear, but oil companies have historically passed those losses on to consumers.