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Mexico to hit US with tariffs on pork

Mexico to hit US with tariffs on pork
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Mexico will slap a 20 percent tariff on U.S. pork imports in response to the Trump administration's tariffs on steel and aluminum from key U.S. allies.

"Earlier today, President Enrique Peña Nieto released a Decree in response to the United States’ 232 tariffs on steel and aluminum. The United States’ decision to impose these duties contradicts the international community framework on tariffs and international trade and therefore subjects them to Chapter VIII: NAFTA Emergency Measures, which allows for Mexico’s Decree," Mexico's government said in a statement. 

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"The Decree suspends the preferential tariff treatment between the United States and Mexico, allowing the latter to implement duties on a variety of products such as pork meat, some types of cheese, apples, cranberries, whiskey, steel, motor boats, among others," it said.

Reuters was the first outlet to report on the tariffs on U.S. pork imports on Tuesday. 

Mexico first threatened last week to impose retaliatory tariffs U.S. pork, including pork legs and shoulders.

Mexico serves as the largest export market for U.S. pork by volume. 

Mexico's threats have already impacted the pork industry in the U.S., with the concerns over  retaliatory moves reportedly costing Iowa pork producers about $560 million. 

Canada and the European Union have also threatened to slap tariffs on U.S. goods such as blue jeans, bourbon and yogurt, in response to President TrumpDonald TrumpBiden to hold virtual bilateral meeting with Mexican president More than 300 charged in connection to Capitol riot Trump Jr.: There are 'plenty' of GOP incumbents who should be challenged MORE's tariffs. 

The EU and Canada also brought cases against the U.S. at the World Trade Organization.

The Canadian, Mexican and EU markets were originally exempt from Trump's proposed tariffs when they were first announced in March, but Commerce Secretary Wilbur RossWilbur Louis RossFormer Trump officials find tough job market On The Money: Retail sales drop in latest sign of weakening economy | Fast-food workers strike for minimum wage | US officials raise concerns over Mexico's handling of energy permits US officials raise concerns over Mexico's handling of energy permits MORE said trade talks with the U.S. trade partners did not advance enough to allow a continued exemption.