Israel dropped its tariffs on American ag
Multiple countries around the world are making plans on how to manage incoming tariffs from the United States.
President Trump previously proclaimed April 2 as “Liberation Day” and at 4pm ET is scheduled to announce reciprocal tariffs on countries that have trade barriers on the United States.
Here’s how some U.S. trading partners are preparing, and how ag fits into the equation.
In Israel, the government lifted all tariffs on all U.S. ag imports.
Finance Minister Bezalel Smotrich signed the emergency order on Tuesday to encourage President Trump to spare Israel from broad tariffs, Ynetnews is reporting.
In 2017, the U.S. exported about $545 million of ag products to Israel, USTR data says.
The top ag goods exported that year included tree nuts ($128 million), soybean meal ($51 million), and distillers grains ($41 million).
In Britain, is appears a trade deal between the two countries is in the works.
The Times reports a deal that includes British concessions on agriculture is ready for signatures.
And that deal includes removing tariffs on 12 percent of U.S. beef, chicken, and pork.
Last week, the Indian government committed to reducing tariffs on U.S. ag products.
According to Reuters, Indian officials offered to tariff reductions on goods like almonds and cranberries, bourbon whiskey and lentils.
Other countries, however, aren’t planning to make concessions.
Canada and Mexico, and the European Union, have promised tariffs in response.
And China, Japan and South Korea are also planning a coordinated response to American tariffs.