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USDEC concerned about potential Trump tariffs
The U.S. Dairy Export Council’s trade expert is concerned about the planned tariffs from President Trump.
Jaime Castaneda tells Brownfield when Trump announced there would be additional 25% tariffs on Canada and Mexico starting March 4th, Canada developed a list of retaliatory tariffs and his team has been talking to Mexico’s leaders. “We have been in contact with the Mexican government and again we are urging them that they shouldn’t be including, especially dairy products, but in general, agriculture.”
Castaneda says they have encouraged Mexico not to retaliate because it would also create hardships for their own people. “Not only are they going to get impacted by the 25% that we would be imposing in their products, but also creating food inflation if they actually retaliate with an equal 25%.”
Castaneda says he remains optimistic that the tariff and counter tariff issues with Canada and Mexico can be avoided. He says the U.S. clearly needs to reset the trade imbalance with Europe, and tariffs might be needed.
Did we learn nothing the last time the US imposed tariffs? I feel like we are collectively hitting ourselves in the head, excited by how good it is going to feel when we stop.