On 31 May, one day prior to implementation of the U.S. tariffs on steel and aluminum, the Economy Secretariat of Mexico announced that until those are rescinded, Mexico would respond with an equivalent amount of tariffs on U.S. pork legs and shoulders as well as sausage, cheese, apples, food preparations, and various manufactured goods. Yesterday Mexico did just that, imposing a 10 percent tariff on pork that will increase to 20 percent in 30 days (on 5 July). No country has ever shipped more pork to another country than the U.S. did to Mexico last year at more than 800,000 MT worth $1.51 billion. About two-thirds of that value applied to hams, which would now fall under the new tariff. U.S. pork is gaining market share globally. Although...

TAGS – Livestock, China, North America