It’s not just Chinese imports that are subject to US tariff hikes. As of Tuesday 7th May, the US has imposed a 17.5% tariff on Mexican tomato imports. The move comes following unsuccessful negotiations to renew a 2013 agreement that suspended a US anti-dumping investigation. The US Commerce Department said in February that the US would halt the investigation as long as Mexican producers sold their tomatoes above a pre-set price.
“As of tomorrow a tariff of 17.5 percent will be applied on the value of the product,” said Luz Maria de la Mora, Mexico’s undersecretary of foreign trade. “It’s going to affect financial flows but that is going to be directly transferred to US consumers.” The measures will remain in place until a new suspension agreement is reached and could lead to immediate and significant price rises for US consumers. Mexico exports about US$2 billion of tomatoes to the US each year.