The spice market is facing challenges due to President Trump’s tariff policy, which will impose duties as high as 50% on imports from several countries starting August 1. This follows earlier tariffs that have already increased costs for food manufacturers, affecting the over $2 billion in spices the U.S. imports annually. Many spices cannot be grown domestically, leading to potential price hikes for consumers. Companies like McCormick estimate significant annual costs due to tariffs, while smaller businesses may struggle more. The American Spice Trade Association is advocating for tariff exemptions on certain spices that are not commercially viable in the U.S.

Source: https://www.supplychaindive.com/news/trump-tariffs-spices-food-ingredients-prices/752753/