Amid trade war fears, a Minneapolis community-owned grocery store believes it can to keep prices stable
On Wednesday, President Trump shared his long-promised tariff announcements his administration characterized as "Liberation Day."
Financial markets around the world tumbled following the announcement, and U.S. stock markets saw a sharp drop when Wall Street opened for business Thursday.
With economists sharing concerns a trade war may soon be in full swing, many shoppers worry grocery prices could be affected. One type of grocery provider says it may have a way to keep prices mostly stable.
"We've got mushrooms from Wisconsin, we have got products from Oregon," said Jill Holter, from Wedge Community Co-op.
When summer hits, Holter says the shelves will be full of Minnesota-grown foods.
According to their model, the store believes "in the power of high-quality, locally sourced ingredients."
"I like the produce," said Susan Karagiannis, who has been shopping these shelves for nearly 20 years.
As a member, she is one of 21,000 owners of the co-op and gets special discounts.
"We are seeing more people shop more frequently and we are seeing bigger basket sizes," said Holter. "Sales are doing really well."
A trend that could heat up, if tariffs ramp up.
"Knowing that local is our first choice. We will never see tariffs here from our local farms," said Holter.
She says there are some items that could have tariffs, including avocados and bananas, which they import.
"We are not gonna raise prices unless we see prices get raised to us," said Holter. "Even with that, we are gonna do the least amount possible."
Featherstone Farm in southern Minnesota says they send out co-op subscription boxes for a fixed price and are seeing more sign-ups than usual.
