Tariff Deadline
From the Ag Information Network, I’m Bob Larson. With time running out on the 30-day tariff delay for Canada and Mexico, our northern neighbors have already announced plans for retaliation.
American Farm Bureau economist, Betty Resnick …
RESNICK … “So, these retaliatory tariffs come from that February 1 executive order from the White House, which threatened to put 25 percent tariffs on most Canadian and Mexican products and ten percent on Chinese products starting on February 4. So, while those tariffs on China went into effect, the tariffs on Canadian and Mexican products were paused.”
Prior to that, Canada published a list of goods that would face a 25 percent retaliatory tariff …
RESNICK … “For ag products, the list did include almost 400 agricultural HS codes. Those are the individual products that they charge tariffs against. These included some poultry, pork, and dairy products, several row crop products, including wheat, barley and rice, some fresh fruits and vegetables such as oranges, tomatoes and green beans, and a whole bunch of processed food products like chocolates, pasta, and soup.”
The tariffs on Mexico and Canada are set to begin tomorrow …
RESNICK … “Canada has also stated previously that if the tariffs were to remain in effect, they'll impose further tariffs on an additional 125 billion dollars of U.S. products, which could expand to all U.S. agricultural products exported to Canada.”
Check out the Market Intel page at www.fb.org for a more.
