Trump's Tariffs Are Driving Up Ammunition Prices, Hurting Gun Buyers

President Donald Trump has long claimed to be the “most pro-gun president ever,” yet his trade policies are quietly squeezing gun owners at the checkout counter. Tariffs imposed on metals like copper, brass, and lead—key ingredients in ammunition—have driven up production costs for U.S. manufacturers. These costs are now being passed on to consumers in the form of higher prices for ammo, especially for the most popular 9mm rounds.

Data from Ammunition Depot, cited by The Trace, shows the average price per 9mm full metal jacket bullet climbed steadily through late 2025 and into 2026. By January 2026, it briefly hit 35 cents per round—about 10 cents more than the year before. That adds up fast. A typical purchase of 1,000 rounds now costs roughly $100 more than in 2025.

Industry insiders confirm the trend. Nathaniel Boos, CEO of Black Basin Outdoors, told The Reload podcast that wholesale ammo prices have risen steadily since late 2025, with further increases expected through 2026. The Kinetic Group, the country’s largest ammo maker, announced price hikes of 2 to 10 percent across major brands citing “unprecedented cost increases and unforeseen volatility” in raw materials.

Olin Corporation, owner of the Winchester brand, admitted in a recent earnings call that tariffs on metals like brass and copper have forced them to cut jobs and prepare for more price increases. CEO Kenneth Lane warned investors that these cost pressures will be passed on to customers.

The tariffs have also wiped out a significant portion of cheaper imported ammunition. Turkish and Eastern European brands, once a staple of the low-cost ammo market, have largely vanished due to these trade barriers. Imports from Brazil, which accounted for 12 percent of U.S. demand, have disappeared entirely. This loss of competition further pushes prices upward for domestic ammo.

Gun manufacturers are feeling the pinch too. Smith & Wesson reported multiple quarters of reduced gross margins directly attributed to tariffs on steel and other materials. Ruger’s CEO cited tariffs alongside inflation and economic uncertainty as major headwinds for the firearms market. Some companies like Taurus are lobbying the Trump administration for tariff exemptions, even as the administration has already handed out industry favors.

The irony is stark. While Trump claims to champion gun rights, his tariffs are making ammunition more expensive and less accessible for everyday Americans. The trade war tactics that have roiled global markets are now hitting gun owners in their wallets, undermining the very base the administration claims to support.

This is not just a story about rising prices. It is a clear example of how Trump’s broader economic policies and disregard for trade consequences are fueling inflation and hurting consumers, even in industries where he claims to be an ally. For gun owners, the cost of exercising their rights is climbing—and the administration is to blame.