The information available indicates that tariffs on imports from Canada and Mexico are set to take effect on February 1, 2025. These tariffs will be 25% and will impact a wide range of goods, including those relevant to the CPG industry. The CPG industry is likely to be significantly impacted by these tariffs, as many companies rely on imports from Canada and Mexico for ingredients, packaging, and finished products. The tariffs could lead to increased costs for CPG companies, which could be passed on to consumers in the form of higher prices. In addition to the tariffs on goods from Canada and Mexico, there is also the possibility of increased tariffs on goods from China. While the details of these tariffs are not yet finalized, they could also have a significant impact on the CPG industry. CPG companies are taking steps to mitigate the impact of these tariffs, such as diversifying their supply chains and sourcing more goods from countries not affected by the tariffs. However, it is likely that the tariffs will still have some impact on the industry, and consumers could see higher prices for some CPG products as a result. It is important to note that the situation is still developing, and the details of the tariffs could change. It is also possible that the tariffs could be delayed or canceled altogether. However, for now, CPG companies and consumers should be prepared for the possibility of higher prices as a result of the tariffs.