A second wave of EU retaliatory tariffs would hit more than $7 billion in annual ag exports from the U.S. That’s according to a copy of a list obtained by Agri-Pulse. The EU tariffs would happen if negotiations with the U.S. fall through and if President Trump goes ahead with August 1 tariffs on EU exports.
EU policymakers approved retaliatory tariffs on an earlier list of products worth more than $25 billion in March. Agricultural products taking the hit could include grains, meats and vegetables. Those countermeasures were set to happen recently but were put on hold until August 1 to let talks play out.
A second list in the works could slap tariffs on a further $84 billion worth of U.S. products, including around $7.4 billion on agri-food exports.
Fruit and vegetables make up the largest share of targeted ag products, weighing in at more than $2 billion in annual exports. Wine, beer, and other alcoholic beverages account for another $1.4 billion, while fish and seafood, animal products, and tobacco make up around $600 million, $340 million, and $130 million, respectively. The list is wide-ranging, hitting a variety of U.S. meat exports, nuts, dried and fresh fruits and vegetables, seafood, mushrooms, and bourbon.
Aside from U.S. agricultural products, the list includes a slate of U.S. industrial products, including Boeing planes, cars, medical devices, and chemicals.
EDITOR’S TAKE:
The saber rattling continues and where we actually land afterwards is anyone’s guess at this point. One thing for sure is that should all of the threatened tariffs be implemented, agriculture would take a huge hit. Let’s continue to hope that a better deal can be achieved and any trade distortions are minimal.
That said, we do want you to rattle your saber and publicize the new AGwagon! The new and amazing vehicle was designed by farmers and ranchers for farmers and ranchers. It has many specialty upgrades that simply are not seen on any other vehicle. Take a closer look at this truck on our website (www.agwagon.com) or at one of the events where the Certified Ag Group will be participating (listed in the events calendar below).
