Canned goods prices to skyrocket as tariffs impact Maryland manufacturer

In response to the recent changes in U.S. tariff policy under the Trump administration, a Maryland-based tin can manufacturing company has announced that it will be raising prices due to increased costs associated with imported tin plated steel. This steel makes up a significant portion of the company's overall material costs, with estimates that it accounts for 50% to 75% of the selling price of their products. Specifically, the company indicated that the new 25% tariff on steel would necessitate a roughly 12% increase in prices to maintain profitability. CEO Rick Huether expressed deep concerns about the long-term viability of the 95-year-old company, primarily due to the increased costs that are expected to be passed on to consumers. He highlighted that the domestic production of tin-plated steel can only meet about 30% of national demand, leaving manufacturers to rely heavily on imports. This dependency on foreign steel is troubling, especially since the tariffs may drive consumers to alternatives that are less environmentally friendly, such as plastics. The potential increase in the prices of canned goods, beverages, and other products is significant, as many domestic companies rely on these imported materials to fulfill their manufacturing needs. The letter addressing clients reveals that the company not only meets the tariff goals by operating multiple factories in the U.S. but also employs over 400 people. However, Huether's apprehensions highlight a more profound concern regarding environmental sustainability and the future of manufacturing in America. He noted that for every day that passes, there seems to be new challenges arising as they navigate this tariff issue. Experts have noted that the sweeping tariffs imposed by the Trump administration could lead to dramatic price increases in many consumer items, particularly those that include canned goods and processed foods. As the situation evolves, Huether and other manufacturers are making efforts to work closely with their clients to adapt to the changes. They maintain hope that this tariff situation will be resolved in a timely manner to prevent long-lasting economic consequences for the industry and consumers alike.