President Donald Trump has announced he’s levying tariffs of 30% against the European Union and Mexico starting Aug. 1.

U.S. tomato prices will likely rise as the country officially retreats from a longstanding trade agreement with Mexico. Why it matters: Americans buy a lot of tomatoes, and this tariff will likely affect the cost of everything from salsa to Caprese salad.

Businesses typically pass tariff costs onto consumers through higher prices. Sometimes, that process is less subtle.

President Donald Trump's second-term economic plan can be summed up in one word: tariffs. As he unleashed a barrage of those import taxes, markets trembled and business leaders sounded alarms about the economic damage they would cause.