financetom
Business
financetom
/
Business
/
National Restaurant Association lobbies against US tariffs
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
National Restaurant Association lobbies against US tariffs
Jul 30, 2025 2:55 PM

(Reuters) -The National Restaurant Association said it was "extremely concerned" about the possibility of new tariffs in a letter sent to U.S. Trade Representative Jamieson Greer on Tuesday.

Trump earlier in July threatened to impose 30% tariffs on imports from Mexico and the European Union starting on August 1.

The letter said that a 30% tariff on food and beverage products from Mexico and Canada would cost U.S. restaurants $15.16 billion after one year. It urged existing exemptions to continue for USMCA-compliant goods, and said disruptions to restaurants' "razor-thin margins" would ultimately lead to consumers facing higher menu prices. 

The letter also said tariffs on Brazil or the European Union would pose "significant challenges" to the restaurant supply chain for goods like coffee, beef, and European food, wine and spirits.

Executives at several large U.S. restaurant chains have said in earnings calls that they do not expect significant impacts from tariffs. Yum Brands , the parent company of KFC and Taco Bell, has "minimal" risk from tariffs, its Chief Financial Officer Christopher Turner said in an earnings call at the end of April. Restaurant Brands International , the parent company of Burger King, sources the "vast majority" of its goods within local countries, according to Chief Financial Officer Sami Sidiqqui.

The National Restaurant Association, which represents more than 500,000 U.S. restaurants, earlier this year lobbied on trade policies to U.S. congressional representatives, senators, the U.S. Trade Representative, and the U.S. Department of Commerce, according to lobbying reports filed last week.

The letter sent Tuesday echoed one the organization sent in February to U.S. President Donald Trump that called for an exemption from tariffs on food and beverage products.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
BRIEF-Greatland Gold To Buy Telfer Mine, 70% Of Havieron Project For Up To $475 Mln
BRIEF-Greatland Gold To Buy Telfer Mine, 70% Of Havieron Project For Up To $475 Mln
Sep 10, 2024
Sept 10 (Reuters) - Greatland Gold PLC: * TRANSFORMATIONAL ACQUISITION OF HAVIERON & TELFER * TO ACQUIRE 70% HAVIERON AND 100% TELFER * TOTAL CONSIDERATION FOR ACQUISITION UP TO $475 MILLION * UNDERWRITTEN $325 MILLION PLACING AND PROPOSED RETAIL OFFER OF UP TO ABOUT $9 MILLION * NEWMONT EXPECTED TO HOLD UP TO 20.4% OF ENLARGED GROUP Source text for...
Methanex Analyst Says $2B Acquisition Will Be An Overhang On Shares
Methanex Analyst Says $2B Acquisition Will Be An Overhang On Shares
Sep 10, 2024
Shares of Methanex Corp ( MEOH ) have been on a downtrend since the company announced it had inked a definitive agreement to buy OCI Global‘s international methanol business. Concerns around the transaction risks associated with the acquisition are unlikely to be easily assuaged in the near term, according to Barclays analyst Mike Leithead. Leithead downgraded the rating for Methanex...
Apple tax bonanza hands Ireland political, reputational headache
Apple tax bonanza hands Ireland political, reputational headache
Sep 10, 2024
* 13 bln euro award dwarfed by wider multinational tax take * Opposition says money should be spent quickly * Government rules out using money in pre-election budget (Recasts, adds comments from finance minister, opposition) By Padraic Halpin and Conor Humphries DUBLIN, Sept 10 (Reuters) - An EU court order that Apple ( AAPL ) pay Ireland 13 billion euros...
Trident Digital Tech Debuts on Nasdaq; ADSs Down 10%
Trident Digital Tech Debuts on Nasdaq; ADSs Down 10%
Sep 10, 2024
11:46 AM EDT, 09/10/2024 (MT Newswires) -- Trident Digital Tech Holdings (TDTH) American depositary shares debuted on Nasdaq on Tuesday and opened at $4.50, below the company's initial public offering price of $5 per ADS. The IPO of 1.8 million Trident Digital Tech ADSs is expected to raise about $9 million and close on Sept. 11. Trident Digital was down...
Copyright 2023-2026 - www.financetom.com All Rights Reserved