Thanksgiving might be a time-honored tradition, but its cost is far from predictable. The American Farm Bureau reports that while the cost of a classic Thanksgiving dinner fell to $58.08 in 2024 from $61.17 in 2023, it still remains about 19% higher than five years ago.
Now, new tariffs from imported spices to steel for roasting pans are poised to quietly push those sticker prices higher. As a result, your turkey, pumpkin pie, or even the pan you roast them in may cost more this year.
A Broad Tax on Imports
Tariffs are taxes on imported goods, and the cost usually gets passed on to shoppers. Unlike sales tax added at checkout, tariffs are already built into the sticker price. That means you may pay more for groceries without noticing why. Even items grown or made in the U.S. can be affected if they rely on imported parts or ingredients. For Thanksgiving dinner, this can show up in the price of canned goods, spices, or even kitchenware.
Turkey and Its Global Connections
You might assume that since turkeys are raised here in the U.S., their price is safe from tariffs, but that's not entirely true. The biggest factor is what the turkeys eat. Feed costs, like corn and soy, are influenced by global trade. If tariffs make agricultural supplies more expensive, farmers' costs go up, and that usually means you pay more per pound at the store.
The Cost of Spices and Herbs
It might surprise you to learn that spices like cinnamon, nutmeg, and cloves, integral to that classic Thanksgiving taste, are almost entirely imported. This means any new tariffs could directly make them more expensive. Although the rise of one individual spice may not be significant, the overall impact of the price rise of all these basic components may contribute a substantial sum to your overall holiday food expenses.
Tariffs on Packaging Materials
Packaging costs are also rising because of tariffs. Steel and aluminum used in cans, foils, and lids now face duties as high as 50%. Food companies say higher steel prices alone add millions to their costs. Those expenses show up in the price of canned goods, bottled drinks, and other packaged items on your Thanksgiving shopping list. Even if the food itself is U.S.-grown, the package it comes in now costs more.
The High Cost of Kitchenware and Appliances
The Thanksgiving price pinch extends beyond ingredients to the cookware itself. New levies on imported products, especially those imported by countries such as China, can push up the cost of basic kitchenware, from roasting pans to serving dishes.
A recent report indicated that certain grocery products are experiencing price increases as much as 40 per cent, with large retail chains specifically attributing the cause to new tariffs.
The Broader Economic Ripple Effect
Tariffs can create a ripple effect, raising business costs and contributing to inflation and slower growth. This broader economic uncertainty makes consumers more cautious with their budgets. A recent AP-NORC poll found that 53% of Americans say grocery costs are a major source of stress.
A Look at Other Meal Components
Homegrown favorites like sweet potatoes or pumpkin might seem safe from tariffs, but other factors can still drive up prices. Higher trucking rates, fuel costs, and farm labor shortages all add to what you pay at the store. When tariffs raise costs for imported parts or equipment used in farming or food processing, those increases ripple through domestic crops too. That means the price of your sweet potato casserole or pumpkin pie mix can rise even when the ingredients come from U.S. soil.
Potential for Retaliatory Tariffs
There is a domino effect to consider with retaliatory tariffs. If the U.S. places tariffs on imported goods, other countries are likely to do the same to American exports. This hits farmers especially hard, since they sell much of their harvest abroad. If those international sales drop, you could see a glut of products here at home. That might sound good for you in the short term, but it creates financial trouble for farmers and makes the market less predictable.
Niche and Specialty Items
If your Thanksgiving table includes specialty items like imported cheeses or wines, tariffs could have a noticeable effect. Since many of these products, such as unique cheeses, wines, or other gourmet foods, are popular during the holidays and are not produced domestically, they rely heavily on imports. New tariffs could push their prices up noticeably or even make them too expensive to import at all. As a result, you might have fewer choices and could struggle to find exactly what you need for those beloved family recipes.
Regional Price Variations
It is important to remember that the impact of tariffs won't be felt equally everywhere. Regional differences in supply chains, transportation networks, and local demand mean the cost of your Thanksgiving dinner can vary dramatically depending on your zip code. This was clear in the American Farm Bureau's 2024 survey, which found the classic meal averaged just $56.81 in the South but jumped to $67.05 for those in the West.
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