Mexico to Impose Steep Retaliatory Tariff on US Pork

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Scott Olson/Getty Images, File

Pork farmers could lose $100 million annually after Mexico said it would slap a massive tariff on pork imports to retaliate against President Donald Trump's aluminum and steel import levies, according to an estimate by the Iowa Farm Bureau.

Mexico, the second-largest market for U.S. pork exports, said Tuesday it would impose a 10 percent tariff on U.S. pork shoulder and legs, with the tariff rising to 20 percent by July 5, a spokesperson for the Mexican Ministry of Economy confirmed to NBC News.

Mexico imported almost 650,000 metric tons of pork legs and shoulder last year, worth about $1 billion, according to government data.

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