The Evening Standard
Cannabis
A number of cannabis products have also been listed by the UK Government. The UK could respond with some tariffs on true hemp Cannabis products.
“True hemp,” or “Cannabis sativa L”, refers to the plant species used for industrial and consumable purposes.
https://www.standard.co.uk/news/politics/us-donald-trump-sir-keir-starmer-tariffs-b1220646.html
It is also worth noting as Reuters point out
High Tariffs Hurting Cannabis Sector, With Little Relief in Sight
As President Donald Trump rolls out more reciprocal tariffs amid an already scrutinized economic environment brimming with earlier tariffs imposed on both Canadian and Chinese imports, the cannabis industry is anxiously watching its costs rise. But some companies have been proactive in trying to stem the bleeding.
On April 2 at the White House Rose Garden, Trump announced 34% in reciprocal tariffs on China, one of the major countries supplying the cannabis industry with raw materials. This additional rate brings China’s total tariffs figure to 54%.
He also plans to establish a universal baseline tariff of 10% that will apply to all countries, in addition to the figures already announced.
On April 4, China hit back, announcing it would impose a 34% tariff on U.S. product imports beginning April 10.
Kevin Kuethe, chief cultivation and production officer at Lume Cannabis in Michigan, has seen how the trade war has stalled the cannabis economy, mainly due to tariffs imposed on Chinese imports. “We’re starting to face a 2 or 3 cent increase per vape unit we sell to consumers, and we go through hundreds of thousands a month, so it can add up,” he says.
Thankfully, Lume’s supply chain team began working to foresee these price increases back in September, even though a new administration had yet to be announced. “We predicted that a new presidency would lead to some trade issues, so we bought as many units as possible before the tariffs came into effect,” Kuethe says.
He adds how Michigan’s competitive cannabis market doesn’t afford Lume the flexibility to increase prices for consumers, and he doesn’t estimate any price bump in the near future rippling down to end users. Michigan’s average adult-use flower price at retail dipped to an all-time low of $65.21 per ounce in February, according to the state’s Cannabis Regulatory Agency.
On the cultivation side, a major expense has been nutrient salts, which Kuethe says many of his competitors source from China. But for years, Lume has bought these salts from Israel, which now faces a 17% tariff rate, according to Trump’s April 2 announcements. Still, it’s far less than the tariff increase imposed on China.
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