In recent weeks, there has been a lot of discussion about the impact of tariffs on the
U.S. economy. Restaurant operators should pay special attention to that impact they
may expect. Since the COVID pandemic, the restaurant industry has had to endure
multiple crises in the supply chain environment. Just when we think there is a new
normal, something else comes along.
The tariffs, particularly the proposed 25% tariffs on imports from Canada and Mexico
and additional 10% tariffs on Chinese goods, are expected to significantly impact the
restaurant industry. The National Restaurant Association has urged the administration to
exempt food and beverage products from these tariffs to minimize the impact on
restaurant owners and consumers.
Some considerations restaurant operators should be mindful of:
The tariffs are likely to raise the prices of imported food and beverage products, such as
Mexican avocados and canned goods, which could lead to higher menu prices.
With already tight profit margins (typically 3%-5%), independent restaurant operators
could see a profit decline of up to 30% due to increased food costs.
Higher menu prices may deter customers, especially those already sensitive to price
increases.
Supply Chain Challenges: The tariffs on steel and aluminum could also raise the cost of
packaging materials, further affecting the supply chain.
The supply chain challenges can be mitigated partnering with the Strategic Supply
Chain Partners team. Their many years of experience in the food service procurement
field provides unique insights and strategies to deal with the impact of any tariffs and
assist operators in maintaining their margins.
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