Why pork producers won’t be bringin’ home the bacon
Everyone loves bacon… and other pork products that Americans aren’t too fond of like the tongue, ears, snout, and heart. That demand is not easily replaced and is the reason why the wallets of pork producers are going to get a little less fat with the second round of retaliatory tariffs from China and Mexico.
Here are the details… Mexico will double their tax on chilled and frozen pork muscle to 20%. China is planning to collect an additional 25% import duty on American pork products. To be clear, that is in addition to previous import taxes from China, which means the tariff will exceed 70%. These two countries account for 40% of pork exports, including the stuff very few American’s find appealing.
Getting hit where it hurts… in the wallet, of course. One pork producer, Maschhoff Family Foods, is expecting to incur a $100 million loss as a result of the tariffs. That is just one company we are talking about. However, if you can find it in yourself to acquire a taste for pig tongue, the pork producers need all the help they can get.