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More Mexican Tariffs Go Into Effect, Hitting Pork And Dairy Industries

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More Mexican Tariffs Go Into Effect, Hitting Pork And Dairy Industries
Mexican President Enrique Peña Nieto announced the tariffs on June 5 but staggered their implementation.
SHOW TRANSCRIPT

The second stage of Mexico's retaliatory tariffs against the U.S. went into effect Thursday. 

The tariffs Mexican President Enrique Peña Nieto announced on June 5 are in response to the Trump administration's taxes on steel and aluminum.

The new tariffs impose an additional fee on some cheeses and pork products. The previous round of import taxes targeted a variety of products, including apples, whiskey and cranberries. The fees range from 15 to 25 percent.

The pork tariffs are expected to hit America's industry pretty hard. Mexico imported about 25 percent of the U.S.' pork shipments last year.