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MEXICO CITY (Reuters) – Mexico could strike at $4 billion in annual imports of U.S. corn and soybeans if President Donald Trump escalates a trade spat with new tariffs, officials told Reuters this week, and it is studying how to reduce the pain of such a move.
Earlier this month, Mexico swiftly retaliated when Trump imposed metals tariffs, hitting dozens of American imports including steel, apples and pork.
But it held back from the most lucrative class of U.S. farm products: grains, especially feed corn and soybeans, used to fatten Mexico’s cows, hogs and chickens.
The article goes on to state the following:
Imposing such tariffs would be a last-ditch option hitting at U.S. corn farmers’ top export market, and such a move would hurt Mexico’s own industry. But it has already been increasing its imports of grains from suppliers like Brazil and Argentina that could enable it to lessen the impact.
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