Minnesota Pig Farmers Fear Impact of Mexico Trade Dispute
MINNEAPOLIS (AP) — Minnesota's agriculture commissioner says President Donald Trump's trade policies are damaging the state's rural economy.
Mexico has placed a 10 percent tariff on U.S pork products in response to U.S. steel and aluminum tariffs. The pork tariff will double next month.
Mexico buys nearly two billion pounds of pork from the U.S. annually, more than any other nation.
Hog prices have been declining in recent months because of the trade dispute. Farmers are expected to lose $15 for every animal they sell this year, despite earlier projections estimating a $10 profit for every animal, Preisler said.
China increased an existing tariff on U.S. pork from 12 percent to 37 percent several months ago.
Hog farmers fear the tariff could cause lasting damage to the pork industry. Minnesota hog producer Terry Wolters recently attended the World Pork Expo in Iowa. He said many farmers were discussing the tariffs and their potential impact on port exports.