An industry group representing restaurant operators chided President Donald Trump on Wednesday over plans to place tariffs of 10% or more on goods coming into the US, saying the new trade policies will likely increase costs for both companies and customers.
Michelle Korsmo, president and chief executive of the National Restaurant Association, said the group's members anticipate the new tariff regime adds more uncertainty for their businesses in addition to boosting food and packaging costs.
"Restaurant operators know consumers are very sensitive to costs and have kept menu price increases to 30%, while their food costs have gone up 40% in the last five years," Korsmo said late Wednesday.
Restaurant operators also will try to buy food and other supplies from domestic sources, she said, but warned, "it's simply not possible for US farmers and ranchers to produce the volumes needed to support consumer demand."
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