The U.S.-China trade war could drag on for years, but a U.S. agreement with Mexico on rewriting the North American Free Trade Agreement could happen as soon as August, U.S. Trade Representative Robert Lighthizer said today in a Senate hearing.
Farm group leaders and lawmakers railed against President Donald Trump’s trade policy and tariffs in a House Ways and Means subcommittee hearing today, bemoaning the effects on the ag sector as China, Mexico, Canada, the European Union, Turkey and others retaliate.
Mexico’s new 350,000-metric-ton quota for tariff-free pork imports is full, and none of that meat will likely be provided by U.S. producers, according to officials at USDA’s Foreign Agricultural Service. The quota was briefly seen as a potential lifeline for U.S. pork exporters, who were hit last week by Mexico with a 10 percent tariff that increases to 20 percent on July 5.
Cheese will probably be the commodity most directly affected by the tariffs Mexico is imposing on U.S. commodities in response to U.S. levies on steel and aluminum. That’s the gist of a new report by Rabobank dairy analyst Tom Bailey.
Pork exports were a hot topic at the World Meat Congress for both the challenges ahead in a very uncertain trade environment and growing opportunities as global consumers demand more protein and innovative food products.
President Donald Trump announced today the U.S. is hitting Canada, Mexico and the European Union with steel and aluminum tariffs, putting the fate of the North American Free Trade Agreement into further uncertainty and exposing U.S. farmers and ranchers to retaliation.