China Sets 54.3% Tariffs on U.S. and Mexican Pecans

China's Commerce Ministry announced a 54.3% tariff on pecans imported from the U.S. and Mexico, claiming substantial damage to the local pecan industry. The measures start Tuesday, with Mexico expressing concern and planning steps to counteract the tariff. Mexico exported $10.92 million in pecans to China last year.

In a move that may exacerbate trade tensions, China's Commerce Ministry has declared a hefty 54.3% tariff on all fresh or dried pecans imported from Mexico and the United States, citing significant damage to China's domestic pecan industry.

The protective tariffs, effective from Tuesday, are a response to growing concerns within China regarding the negative impact of imported pecans on local producers. Last year, Mexico exported $10.92 million worth of pecans to the Chinese market, according to central bank figures.

Mexico's economy ministry has voiced its objections, stating its intent to oppose the new tariffs through appropriate measures. This development could trigger further economic discussions between the involved nations as they seek to balance trade relations.