The European Union has announced retaliatory tariffs on $28 billion worth of U.S. products.
The tariffs would target U.S. goods like soybeans, almonds, pork, and dairy, with soybeans being the biggest export to Europe. This move follows the U.S. imposition of 25 percent tariffs on steel and aluminum imports.
EU president expressed regret over the tariffs, stating they are harmful to business and consumers, and they disrupt supply chains, raising uncertainty for economies and jobs in both regions.
Related Stories
Corn exports remain strong, while soybeans and wheat shift week to week on river conditions and global demand.
Tyson’s Nebraska plant closure and falling Cattle on Feed numbers send cattle markets tumbling. Analysts warn of tighter supplies, weak margins, and rising global competition.
One trader said the products entering the U.S. are primarily grind and trim, noting that the volume and type of beef, on its own, should not cause a major disruption. However, he says fund traders are reacting heavily to headlines rather than market realities.
