FX.co ★ US Imposes 17% Tariff on Fresh Mexican Tomatoes

The US government declared on Monday the immediate enforcement of a 17% duty on the majority of fresh tomato imports from Mexico, following the conclusion of negotiations without reaching a deal to prevent the tariff, as reported by the Associated Press. Presently, Mexico constitutes approximately 70% of the US tomato market, a significant increase from 30% two decades ago, as noted by the Florida Tomato Exchange. This duty arises from a prolonged US grievance concerning Mexico's tomato exports and is distinct from the 30% baseline tariff on goods produced in Mexico and the European Union, which President Donald Trump announced on Saturday.