Canada announces 25% tariffs on an exhaustive list of American products. Mexico will announce its retaliation on Sunday.
As promised, Trump today initiated 25% tariffs across the board on all products imported from Mexico and Canada. Canada quickly responded with retaliatory duties, while Mexico’s president promised to release her list Sunday … although some observers saw that as a sign that negotiations were not entirely dead.
Trump placed a 25% tariff on all products coming into the U.S. from those two countries. “This tariff will remain in effect until such time as drugs, in particular fentanyl, and all Illegal aliens stop this invasion of our country!”
“Canada will not stand by as the United States imposes unwarranted and unreasonable tariffs on Canadian goods,” said a news release this morning from the government of Canada.
“The Government of Canada is moving forward with 25% tariffs on $155 billion worth of imported goods, beginning immediately with a list of goods worth $30 billion. The scope of the Canadian counter tariffs will be increased to $155 billion if the current U.S. tariffs are maintained. The scope could also be increased if new tariffs are imposed.”
“This was not the outcome Canada hoped for – but we must respond in order to protect our economy and Canadian jobs,” the announcement said.
Mexican President Claudia Sheinbaum is playing it close to her vest, saying her country’s retaliatory tariffs will be announced Sunday. “There is no reason, rationale or justification to support this decision that will affect our people and nations.… Nobody wins with this decision,” she said at a press conference, according to Reuters.
The Consumer Brands Assn. said: “Despite sourcing the majority of ingredients from U.S. farms and domestic suppliers, the [American] industry relies on global trade for continued growth and competitiveness, and tariffs — particularly on ingredients not available domestically — could raise consumer prices and disrupt global supply chains.”
The International Dairy Foods Assn. (IDFA) added: “The U.S. dairy industry urges the Trump Administration to quickly resolve the ongoing tariff concerns with Canada, Mexico, and China — America’s top agricultural trading partners. A prolonged tariff war will deliver significant economic damage to American dairy farmers, processors, and the rural communities … While we recognize that China and Canada have yet to fulfill the promises made in the Phase One and U.S.-Mexico-Canada Agreements, respectively, prolonged tariffs will further diminish market access.”
Two weeks ago, IDFA celebrated 2024 being a near-record year for dairy exports, with foreign trade reaching $8.2 billion in 2024 — the second-highest total export value ever and a $223 million year-over-year increase. Ironically, Mexico and Canada were U.S. dairy’s top two global trading partners, representing more than 40% of U.S. dairy exports. Each country imported record values of dairy at $2.47 billion and $1.14 billion respectively.
Staying on the dairy theme: “Exports are fundamental to the health of the U.S. dairy industry,” said Krysta Harden, president/CEO of U.S. Dairy Export Council. “One day’s worth of milk production out of every six is destined for international consumers, and U.S. dairy sales to Mexico, Canada and China account for 51% of our total global exports. That’s a lot at stake.”
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