Mexico tariff on US pork could result in cut in prices for bacon

Halstrom added in which the Mexico tariffs on U.S. pork “will negatively impact everyone inside U.S. supply chain, place an unnecessary burden on Mexican consumers as well as potentially open up a tremendous strong market to a whole range of competitors.”

Maschhoff noted in which the U.S. pork industry already was feeling the impacts of China’s 25 percent tariffs on U.S. pork imports, which Beijing put into place April 2. “in which’s been pretty costly to the industry,” he said.

In early March, President Donald Trump unveiled a 25 percent duty on steel imports as well as 10 percent charge on aluminum imports. in which led to China’s finance ministry to slap retaliatory tariffs on up to 128 kinds of U.S. goods, including pork, nuts, wine as well as fruit.

China essentially tripled the tariff on U.S. pork This particular year in its tit-for-tat trade action against the United States. The standard Chinese tariff rate prior to the move was about 12 percent for most most frozen pork going into China, although they imposed one more 25 percent duty in early April so the rate jumped coming from 12 percent to 37 percent.

Industry experts estimate in which the Chinese tariffs alone represent around $18 per animal for a hog producers on an annualized basis, or a hit of more than $2 billion.

The Mexican as well as Chinese markets have been important to the U.S. pork industry because they have purchased product in which Americans typically don’t buy, including raw hams as well as what’s called variety meats or organ meats.

Those products have historically been seen as adding value to the animal as well as helping producers in terms of profitability.

“The administration has asked us to be great patriots as well as loyal Americans through This particular process,” Macshhoff said. “The pork producers, by in large, have not thrown rocks at anybody through This particular process. We realize in which we’re a tiny piece of bigger discussions.”

Leave a Reply

Your email address will not be published. Required fields are marked *


15 + 8 =