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Jun. 6, 2018 BrownfieldAgNews reports: Mexico has announced an immediate 10 percent tariff on unprocessed pork in retaliation to the Trump administration's steel and aluminum tariffs. "This is, I would say, the most significant blow so far." Joe Schuele with the U.S. Meat Export Federation tells Brownfield the tariffs will affect nearly all pork products exported to Mexico. "Hams and shoulders in fact were almost one billion of the 1.5 billion in exports that we posted to Mexico last year." He says Mexico has continued to be a record breaking market for U.S. pork products as their consumption has increased by about a third in a little over a decade. "Last year it was more than 800,000 metric tons. That's not only the most pork we had ever shipped to Mexico, that's more pork than any single country had ever shipped to any other country." Mexican tariffs will increase to 20 percent on July 5th. National Pork Producers Council President Jim Heimerl of Ohio says the toll on rural America from escalating trade disputes with critically important trade partners is mounting and devastating pork producing families like his across the U.S. Mexico is the largest volume and second largest value export market for American pork products. Lean hog futures were lower Tuesday, pressured Mexico's announcement. Tweet |
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