Tariff Policy Takes Another Turn

On Thursday, President Trump announced a 30-day pause on all tariffs to Canada and Mexico. A day later, Trump made another change in the tariff policy. “Canada has been ripping us off for years on lumber and dairy products; 250 percent (tariff on dairy products), nobody ever talks about that, which is taking advantage of our farmers.” Trump promised to retaliate with new tariffs coming in a matter of days. However, Commerce Secretary Howard Lutnick was on Meet the Press this weekend and said these tariffs won’t be imposed until April 2. That’s when tariffs on all other products kick in as well. The International Dairy Foods Association released a statement, saying it is accurate that Canada imposes a tariff of approximately 250 percent on U.S. dairy products. IDFA said it is grateful the White House wants to hold Canada accountable for its protectionist trade policy but urged the two sides to negotiate a resolution as soon as possible. The dairy group believes a prolonged trade war will create more uncertainty for American farmers.