The U.S. Commerce Department says tomatoes from Mexico will now face additional duties.
The move backtracks on a prior agreement allowing them to enter the market tariff-free. The International Trade Administration says that the agreement failed to protect U.S. tomato growers from unfairly priced Mexican imports. It was put in place during President Trump’s first term and will end 90 days from now.
Staring mid-July, anti-dumping duties of around 21 percent will be placed on Mexican tomatoes.
Related Stories
Beef is leading the decline as slaughter drops and supplies tighten.
Ethanol demand held together last week, but lower production and thinner stocks put more focus on export strength. Production capacity is also strengthening over time and benefiting soybean farmers.
Farm Bureau Economist Dr. Faith Parum discusses USDA’s efforts to expand fertilizer capacity, signals for farm profitability, and AFBF’s Farm Bill expectations.
Expanded export financing could provide greater support for ag sales abroad if buyers and lenders use the additional tools.
The farm bill is still moving, but the toughest amendment fights were pushed into today’s session. ASA President Scott Metzger joins us to discuss the risks of tariff actions on soybean exports, concerns over trade policy and production costs, and the importance of Farm Bill updates.
Higher input costs are making flexible marketing plans and updated break-even targets more important.
