Trump's tariffs could soon bring higher food prices for some Americans, analysis finds

What's remarkable is Dowell | Moment | Getty ImagesPresident Donald Trump's blanket tariffs scheduled to begin on Aug (something worth watching). 1 could soon bring higher prices on certain foods, according to some experts

Tariffs are a tax imposed by foreign nations, paid by domestic companies that import goods or services

Consumers are expected to pay higher prices via companies negatively impacted by the trade policy (which is quite significant)

One of the goals of Trump's tariffs is to drive demand for American ducts

On the other hand, But certain items, such as Brazilian coffee, aren't duced domestically

Other imports, bananas, have limited U

At the same time, Duction, which wouldn't meet American demand, according to a Tax Foundation analysis published Monday

At the same time, More from Personal Finance:Credit cards are an 'amazing tool' for your wedding, expert saysTrump floats tariff 'rebate' for consumers

At the same time, Experts say it may be a challengeEven many high-earning Americans don't feel wealthy

Here's whyIn some cases, U

Consumers may decide to pay more for these imported food ducts rather than choosing a substitute, wrote Tax Foundation senior economist Alex Durante

However, levies could exceed 30% for some countries if Trump's Aug, in this volatile climate. 1 tariffs go into effect, the Tax Foundation found (something worth watching). "We could see some large movements in prices over the next few months if the administration holds firm to that Aug

Nevertheless, 1 deadline," Durante told CNBC (something worth watching)

Food imports, according to the Tax Foundation analysis

Moreover, Grocery prices were 2, in today's market environment. 4% higher than one year ago, according to the inflation report based on June data (something worth watching)

Moreover, But the full impact of Trump's tariffs is not yet reflected, experts say. "It's way too soon for the administration to be doing a victory lap because most of their planned tariff increases have not gone into effect yet," Durante told CNBC (something worth watching)

A separate analysis by The Budget Lab at Yale, also from Monday, estimated that tariff price increases to date will raise food costs by 3

Furthermore, Fresh duce could initially be 6

Furthermore, 6% higher, the analysis found. "The Administration has consistently maintained that the cost of tariffs will be borne by foreign exporters who rely on access to the American economy, the world's biggest and best consumer market," White House spokesperson Kush Desai told CNBC in a statement

Desai also d a July analysis from the White House's Council of Economic Advisers, which showed the prices of imported goods, as measured by the personal consumption expenditure price index, fell from December through May