Economics
Pork Producers Feel Pain From Mexico's Tariff Retaliation Plan
- U.S. exports 22% of pork production; Mexico largest by volume
- ‘It’s a tragedy if we lose any major portion’ of exports
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Mexico’s plan for retaliatory tariffs on U.S. products including some pork cuts is rattling the meat markets.
Shares of meat producers tumbled Thursday after Mexico’s announcement, and hog futures slumped. About 22 percent of U.S. pork is exported, and Mexico is the largest buyer by volume. The country has been a key importer of hams at a time of record U.S. production, and has helped support the value of hogs.