President-elect Donald Trump’s proposed tariffs could significantly impact the U.S. agricultural sector, with plans for 25% tariffs on imports from Mexico and Canada, 10% on Chinese goods, and 100% on imports from BRICS nations. Farmers and industry groups warn that such measures could invite retaliatory tariffs, targeting key exports like corn, soybeans, and poultry. Mexico, Canada, and China are the top destinations for U.S. agricultural exports, collectively accounting for billions in trade, while retaliatory tariffs could disrupt supply chains and raise costs for farmers. Additionally, the tariffs could drive up consumer costs, with households potentially paying $2,600 more annually. Industry experts highlight that such moves could exacerbate financial stress on U.S. farmers, already grappling with high supply costs and declining prices.
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