New tariffs are on the way, and it is a decision the ag community has been waiting for.
President-elect Trump says he will sign an executive order on inauguration day, putting a 25 percent tariff on all imports from Canada and Mexico, two large ag trade partners with the United States. There will also be an extra 10 percent tariff on goods from China.
Trump says these orders are an effort to stop the flow of fentanyl into the U.S., and he says the tariffs can and will be lifted if the other countries take action.
There are concerns these tariffs on Mexico and Canada would violate the USMCA agreement. The North American Trade Pact is due to sunset next year, and some analysts believe these tariffs could get the ball rolling on negotiations.
