Lots at stake for U.S. agriculture amid Mexican, Canadian trade threats
CHICAGO, May 31 (Reuters) – With risks to U.S. soybean trade with China already in the air, trade threats from Mexico and Canada may be the last thing the U.S. agriculture industry wants to see. But that is precisely what happened on Thursday.
The United States fiercely angered its neighbors by proceeding with steel and aluminum tariffs against them despite earlier talks of possible exemptions. Unless the issue is resolved quickly, the impact on U.S. agriculture could worsen.
Canada and Mexico were the Nos. 1 and 3 importers of U.S. agricultural products by value in 2017, respectively. Both countries hit back with their own list of U.S. goods to target hours after the United States decided to impose tariffs on aluminum and steel imports from Canada, Mexico, and the European Union. Read more