NZ Red Meat Sector Watches US Tariff Decision as Sheepmeat Exports Boom
New Zealand red meat exports are booming but a pending decision in the White House, Washington D.C., could dent sheepmeat earnings.
That apparently pushes the tariff on US pork and pork variety meat to an eye watering 172%.
The new soybean tariff is more than 150%.
This follows Trump’s partial backdown after markets went into freefall, pausing reciprocal tariffs on most countries for 90 days, but upping the ante on China with a tariff of 145%.
Your old mate reckons once tariffs get that high, the actual number becomes academic.
The US Farm Journal concurs: “Whether the tariffs are 50% or 100%, it really doesn’t matter. Either one shuts down trade. It hurts our cotton exports, our beef and our pork.”
