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The Trump administration will impose 25% tariffs on steel imports and 10% tariffs on aluminum imports from Canada, Mexico and the European Union, ending their prior exemptions. Commerce Secretary Wilbur Ross said the duties take effect at midnight Thursday, and quotas or volume limits will apply to South Korea, Argentina, Australia and Brazil instead.
The EU said it would impose countermeasures.
Retaliatory tariffs from Canada, Mexico and the EU on US farm and food products raise trade-war risk for feed commodities, pressuring US export demand for corn, soybean meal and pork-related goods. Feed buyers should expect higher volatility in US export-dependent grain and meal prices.
cnbc.comJacob PramukMay 31, 2018After 683 past bearish trade events, CORN moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% over 20.
After 384 past bearish trade events, SBM moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and -0.5% over 20.
Not enough comparable past events yet for a historical read.
After 123 past bearish trade events, HOGS moved a median -0.4% over 5 sessions (43% higher; middle half -2.9% to +2.0%), and -0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
