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USGC: 'Deeply Concerned' with Trump Tariffs

Trump hits Canada, Mexico, EU with steel and aluminum tariffs

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President Trump is imposing steep tariffs on steel and aluminum from three of America's biggest trading partners — Canada, Mexico and the European Union, reports CNN Money.

The trade penalties, 25% on imported steel and 10% on imported aluminum, take effect at midnight, Commerce Secretary Wilbur Ross told reporters Thursday.

Mexico and the EU immediately announced plans to retaliate with their own tariffs against American products.

“The U.S. Grains Council is deeply concerned about new tariffs [on] Mexico, Canada and the European Union, three key markets for U.S. grain and related products," says Tom sleight, U.S. Grains Council President and CEO. "Based on information we have heard from our customers and past experience, we have every reason to believe U.S. agriculture, including the products we represent, will be among the first hit by counter measures from our trading partners.

"These countries are among our closest neighbors and friends," Sleight continues. "We have spent years building markets in these countries based on a mutual belief that increasing trade benefits all parties. We had strong hopes this situation would be averted permanently, but it now appears we need to prepare for retaliation and its direct impact U.S. farmers. Our global staff is doing this to the best of their abilities as we continue to follow new developments."

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