A report from CNBC details the concerns that many in the pork industry are feeling, as a second round of retaliatory tariffs is scheduled to impact the pork industry this week, along with other agricultural sectors. Mexico, which has already imposed a 10 percent tariff on chilled and frozen pork muscle cuts, is to double that tax to 20 percent. Those tariffs are in retaliation to a tax that the Trump Administration has imposed on aluminum and steel imports.
China is to add an additional 25 percent tariff on American pork products, bringing its taxes on pork products to 71 percent, reports Rabobank, plus an additional 10 percent value-added tax on agricultural imports. In addition to the aluminum and steel tariffs, the United States has imposed additional measures against China for alleged intellectual property theft.