More countries got letters over the weekend from President Trump, warning that stronger tariffs are on the way come August 1st.
The latest round was addressed to the European Union, along with Mexico. President Trump says both countries face 30 percent tariffs starting next month. His concerns with Mexico stem from illegal drug trafficking, something Trump claims Mexico has made little progress on.
Leaders at the EU says they have their own tariffs ready to go, saying they have remained committed to finding a deal forward.
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American soybean and corn leaders, along with Canada’s AgriFood sector, testified before the U.S. Trade Representative’s Office in support of the trade pact between the U.S., Mexico, and Canada.
WTO gauges point to agricultural raw materials trade growing more slowly than overall goods, reinforcing the need to manage export risk and monitor policy shifts closely.
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.
Higher rail tariffs and tighter Canadian supplies will keep oat transportation costs firm into 2026.
