With the one-month delay on President Trump’s tariffs ending, the trade war has been reignited, and Canada and China already announced their retaliatory tariffs. Mexican President Claudia Sheinbaum said they will announce their retaliation this Sunday. Ag commodity prices mostly spiraled as a result of all of this news, and the volatility will continue as the situation develops. U.S. Meat Export Federation President and CEO Dan Halstrom gave a summary of what we know so far.
These tariffs are a big concern for the U.S. red meat industry, as both China and Mexico are top destinations for both pork and beef.
Halstrom said they hope the consequences will mostly impact the short-term picture, as the long-term demand picture for U.S. red meat is very promising.
While we still don’t know for sure how this will pan out, Halstrom said we can look back to President Trump’s first term to get somewhat of an idea.
With the current strength of global demand for U.S. red meat, Halstrom said it’s not time to throw in the towel on the industry.
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