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
StoneX analyst Josh Linville says global supply risks and continued dependence on imported urea are keeping fertilizer markets on edge.
The lockout has not yet signaled a major disruption in the cattle market, but processing reliability remains important in a tight beef supply chain.
American Farm Bureau economist Bernt Nelson says consumers are still buying meat despite ongoing price pressures.
Analysts say drought, tight cattle supplies and summer grilling demand continue shaping the protein market outlook.
Soybeans accounted for nearly half of the $15 billion in losses on U.S. ag exports to China due to tariffs, according to researchers at North Dakota State University.
Feed grain supplies may tighten in 2026/27, supporting higher corn and sorghum prices despite large crops.
