Think of the food items you buy and consider stocking up. Corn, oats, sugar beets, turkeys (#1), hogs (bacon !!), cattle, and wild rice. Wheat is not a big product in MN, but it is in more southern states. IMO, all wheat products will also be going up.
Much of the oil used in the northern US (between the Rockies and the Great Lakes) comes from Canada.
Think Hormel, General Mills, and so on. Consider stocking up on items before prices go up. I just got a local delivery, but this was a local sale (right on time, too !!).
They buy the output of the farmers than need to buy diesel and fertilizer produced from natural gas. Their costs will go up too.
I’m thinking the guys with the well heads. Their costs would go up very little, but what they sell the crude for will go up, considerably.
Same thing with any domestically produced product that will be sheltered from imported competition. I posted, a while back, about how much the price of US produced washing machines went up, when tariffs were laid on imported washers. Same thing with cars. Air conditioners.
Actually, they have to shut down and stop pumping. Why? Black oil needs DEI in order to be usable–and ALL DEI in the US is prohibited. Nobody prevents white oil from being used, but they haven’t found any yet. You know, Ecremental Output at its finest.
I think that’s a good idea, assuming you have a garden
Another problem with “stocking up” is how much and for how long a period you think you’ll need those comestibles. Even dry goods have a shelf life. Canned goods have greater longevity if you like, or can tolerate, canned goods.
That’s easy. Figure out what items are on the tariff lists and go from there. 25% tariffs mean 35%-50% price increases. Why? Stores mark up their cost–which includes any tariffs. So prices will go up more than 25%. Unless the store plans to stop carrying those imported products. I buy tomatoes grown in Mexico or Canada. Price going up, but no idea by how much. They used to be $3/package. Will see when the new prices hit. They are sold at multiple stores that deliver to me, so it will be very interesting. My chocolate comes from Germany, so no tariff (yet?). If tariffed, I will know the markup because it is propriety to Walmart.