Mexico will impose a 20% tariff on US pork imports, Reuters reported citing industry officials with direct knowledge of the plan. This will be the country’s retaliatory measures to US President Donald Trump’s tariffs on steel and aluminum.
The Mexican authorities announced possible introduction of such duties last week. Information was confirmed by Heriberto Hernandez, president of Mexico's leading pork producers association OPORPA.
According to Hernandez, the measure will not lead to an increase in prices for Mexican pork, since suppliers from the United States have many alternatives. It is expected that the new duty will come into force on June 6.
Last year, Mexico imported almost 650,000 tons of pork worth about $1.07 billion. Total imports of pork during the reporting period came in at 840,000 tons.
In March 2018, US President Donald Trump put massive tariffs on imports of steel and aluminum to the tune of 25% and 10% respectively. This decision complicated the negotiations with Mexico and Canada on the revision of the North American Free Trade Agreement (NAFTA).
