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President Trump's newest tariffs have officially taken effect, doubling duties on imports of steel
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aluminum, and other metals to 50 percent. And while the increase is expected to raise prices
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on things like cars and construction, you might not be expecting it to impact your grocery bill
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but experts say it likely will. Think about it. Many common grocery store products rely on steel
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and aluminum for packaging. Canned goods, soda pop and beer, as well as pet food, just to name a few
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And some of the businesses behind the country's most commonly bought groceries are already saying
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they expected to pass price increases onto consumers. It comes at a time when Americans
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are already struggling to afford the necessities. A recent LendingTree survey found one in four
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Americans now turn to short-term buy-now-pay-later loans to keep their pantries stocked. And Klarna
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one of the nation's biggest lenders behind these loans, says more people are paying on
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their installments late, costing the company $136 million in the first quarter of 2025
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LendingTree's research backed that up, finding 41 percent of those surveyed said they've paid
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late in the last year. Meanwhile, America's total consumer debt has reached a record $18.2 trillion
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The New York Fed found household spending rose 4.5% in April compared to the same time last year
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