US President Donald Trump announced that the US will impose tariffs on foreign agricultural products starting April 2. The move will further increase the threat of trade barriers on imported goods.

People shop for food at a supermarket in Burlingame, California, US. Photo: THX/TTXVN

In a social media post on March 3, President Trump called on US farmers to prepare to increase agricultural production for domestic sale, and announced that tariffs would be imposed on foreign agricultural products starting April 2.

According to data from the US Department of Agriculture, tariffs on imported agricultural products will affect the market for fruits, vegetables and nuts, which account for at least half of agricultural imports into the country. Sugar, coffee, cocoa and other tropical products account for about 15% of imports.

The US also imports used cooking oil from China to produce biofuel, a practice that lawmakers are trying to tightly control. If the import tariffs can stop this practice, it would be good news for the US soybean oil industry. Soybean oil futures in Chicago pared earlier losses after Trump's tweet.

Mexico exported $45.4 billion in agricultural products to the United States in 2023, accounting for about 23% of imports, making it the largest supplier of U.S. agricultural products, according to the U.S. Department of Agriculture. Canada and the European Union shipped a combined $73 billion in agricultural products to the United States.

The move comes as U.S. food imports surge, pushing the country's agricultural trade deficit to a record $49 billion this year, the U.S. Department of Agriculture forecast last week.

Trump did not provide further details on what items would be subject to tariffs or whether there would be any exemptions. The plan is part of a previously announced effort to impose reciprocal tariffs on most of the United States' trading partners, according to two people familiar with the matter.

Mr. Trump also said that a 25% tariff on products from Canada and Mexico would begin on March 4. In addition, he signed an executive order doubling tariffs on China to 20%, effective the same day.

Source: Bnews