Tariffs News Updates

Mexico’s Senate on Dec. 10 voted in favor of the bill that imposes tariffs of between 5% and 50% on more than 1,400 products from Asian nations that don’t have a trade deal with Mexico.

The reduction will cut the levy to 15% from a previous level of 39%, a punitive rate that was the highest slapped on any developed country.

Cattle prices won’t rise as much as previously expected in 2026, as the closure of a Tyson Foods plant is seen loosening competition for scarce U.S. supplies.

Mexico’s Congress is set to vote this week on President Claudia Sheinbaum’s proposed tariffs on China, part of a broader plan to shield local producers and ease trade tensions with the U.S.

The world’s biggest farm machinery maker said in a statement to Bloomberg that it “has kept focus on supporting our customers and helping them build for the long haul.” 

Asked in an interview with Politico whether he’d rule out cutting tariffs on more goods than coffee, beef and bananas, Trump said he would “on some, and on some I’ll increase tariffs.”

President Donald Trump signaled Dec. 8 that he could impose fresh tariffs on agricultural products, including Canadian fertilizer and Indian rice.

Bloomberg previously reported that after a series of orders placed in late October — the first of this season — China’s purchases of American soybeans appeared to have stalled. 

The aid comes amid rising frustration among farmers on the slow pace of Chinese purchases, which Beijing clamped down on earlier this year in retaliation for Trump’s tariff barrage. 

India-U.S. relations have also soured because of Trump’s assertions he brokered a ceasefire between India and Pakistan during the conflict in May and used trade as a bargaining chip.