High import tariffs lead to baby formula shortage in US: Report

With only four major manufacturers of formula in the United States today-Mead Johnson, Abbott, Nestle, and Perrigo, some 40 percent of the nation`s baby formula has been out of stock recently, causing new mothers to hunt from store to store to feed their infants. "One reason the market is so concentrated is tariffs up to 17.5 percent on imports, which protect domestic producers from foreign competition," said The Wall Street Journal last week.