Food and Agriculture Industries to Face Retaliatory Measures in Response to Trump Tariffs
- On June 1, the Trump Administration announced that it will extend tariffs on steel and aluminum to Mexico, Canada, and the European Union (EU), which originally had been exempted from the tariffs when announced in March. The tariffs impose a 25% tax on steel imports and 10% tariff on aluminum imports.
- Canada has announced that it plans to impose surtaxes or other countermeasures on food products, including yogurt, pizza, cucumbers, prepared foods, and coffee. Mexico is considering imposing countermeasures on pork, sausage, fresh fruit, and cheeses. The EU list of goods proposed for retaliatory action includes corn, kidney beans, rice, cranberries, and whiskey.
- The food and beverage industry and agricultural associations have criticized the tariffs, which have the potential to have far reaching impacts—from producers of affected products to consumers paying higher prices for goods.
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