USMCA progress good news for US pork
A livestock market analyst says getting the USMCA trade deal across the finish line is nothing but good news for US agriculture.
University of Missouri’s Scott Brown says the news Friday that the US would end tariffs on steel and aluminum from Canada and Mexico is one of the final hurdles that needs to be cleared.
Brown says he expects to see Mexico’s retaliatory tariff on hams eliminated and that would be a big win for the US pork industry. “Getting an elimination of that ham tariff if we get a successful USMCA – I think boosts the amount of ham we can send to Mexico and raises ham prices in this country,” he says. “Both of those things could be helpful on the pork side of the equation.”
In 2018, Mexico was the largest volume export market for US pork. The National Pork Producers Council says Mexico’s 20% retaliatory tariff on U.S. pork has cost US pork producers $12 per animal, or about $1.5 billion on an annualized, industry-wide basis.