Half of a 20 percent tariff on pork imports went into effect Wednesday, as Mexico looks to retaliate against President Trump’s aluminum and steel import levies.
According to the Iowa Farm Bureau, this means U.S. pork farmers could lose at least $360 million a year.
The 20 percent tariff would make pork more expensive in the Mexican market and in turn could hurt the businesses here in the U.S. that export them.
One local pork producer says he’s worried how this could affect those who rely on pork profits.
"My initial thought is this is bad because it’s going to lower price," said Ben Hugenberg, a pork producer in Liberty, Illinois. "It will absolutely lower prices for us. In the depressed farm economy, the way it is, is not good."
The other 10 percent of the 20 percent tariff will be imposed on July 5.
Experts say these tariffs could lead to more pork supplies staying in the domestic market and lower prices for pork and bacon at U.S. supermarkets.