This is too simple. Prices float somewhere between cost to produce and value to consumers.
You can’t raise prices beyond value or no one will buy it.
You can’t lower prices below costs (for too long) or you go out of business.
Competition pushes prices down towards costs.
Therefore businesses are always looking for markets with barriers so they can rise prices to value.
Tariffs typically raise costs for all producers, but this only inevitably leads to price increases when competition has driven prices down to near costs.
Unfortunately many staple grocery products fall into this category.
You can’t raise prices beyond value or no one will buy it.
You can’t lower prices below costs (for too long) or you go out of business.
Competition pushes prices down towards costs.
Therefore businesses are always looking for markets with barriers so they can rise prices to value.
Tariffs typically raise costs for all producers, but this only inevitably leads to price increases when competition has driven prices down to near costs.
Unfortunately many staple grocery products fall into this category.