The Trump administration lowered tariffs on imported potash from 25% to 10% on Thursday and declared a victory for farmers in the process.
The move was part of President Trump suspending 25% tariffs that he had imposed on Canada and Mexico on Tuesday. The new deadline for tariffs going into effect is April 2. Potash tariffs would fall in line with lower tariffs on energy imports.
Trump said he would allow products that are traded under the rules of the U.S.-Mexico-Canada Agreement (USMCA), the trade pact he signed in his first term, but Agriculture Secretary Brooke Rollins pointed out that he reduced the tariff on potash that was not covered under the USMCA.
“President Trump’s announcement which includes a reduction of tariffs on potash not already covered under the USMCA from 25% to 10% is a critical step in helping farmers manage and secure key input costs at the height of planting season while reinforcing long-term agricultural trade relations,” Rollins said in a news release.
“The temporary tariff exemption for Canada and Mexico is a smart, strategic move to keep trade negotiations on course while delivering real results for American agriculture,” Rollins said.
More than 80% of U.S. potash comes from Canada.
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DTN
The only one Trumpet is hurting are the American population
US has no potash so not such a big victory