The Strategist

Mexico to impose a 20% duty on pork from the US


06/05/2018 - 15:20



Mexico will impose a duty of 20% on imports of pork from the United States in response to US duties on steel and aluminum. This is reported by Reuters, citing two sources familiar with the plans of the Latin American country.



pixabay
pixabay
Last week, Mexico announced that it would introduce reciprocal duties on pork legs and shoulder blades from US suppliers.

"It's about 20% of the leg and shoulder blades, fresh and frozen... with bones and boneless," said the president of the Association of Pork Producers of Mexico (OPORPA) Heriberto Hernández after a meeting with the Minister of Economy of the country Ildefonso Guajardo.

Hernandez said he does not expect a rise in pork prices in Mexico due to the introduction of a 20% duty, since supplies from the US "have many alternatives." The Government of Mexico has not yet provided details on the level of the fee.

According to Reuters’s sources, the new duty will come into force on Wednesday.

Last year, Mexico imported almost 650,000 tons of pork legs and shoulder blades for about $ 1.07 billion. The total import of pork to Mexico in 2017 amounted about 840,000 tons.

In March, US President Donald Trump signed an order to impose import duties on steel and aluminum in the amount of 25% and 10% respectively.

The US granted a temporary exemption from duties for EU countries, as well as Canada and Mexico. However, from June 1, exemption from duties does not apply to these countries.

The US decision to impose duties on steel and aluminum complicated the negotiations with Mexico and Canada on the revision of the North American Free Trade Agreement (NAFTA).

source: reuters.com




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