Impact of "Liberation Day" Tariffs on U.S. Meat Industries
- Alexandra Hernandez
- Apr 3
- 2 min read
President Trump’s sweeping tariff policy, introduced under the "Liberation Day" national emergency declaration, will probably affect the beef, pork, chicken, and turkey industries in the U.S. Below is our analysis of how each industry will be impacted, focusing on key markets, previous tariffs, and the new tariff structure.
Beef Industry
Key Markets: Japan, South Korea, China, and the European Union (EU) are major export destinations for U.S. beef. Japan alone accounted for $2.4 billion in U.S. beef exports in 2024.
Former Tariffs:
Japan: 9% under a trade agreement.
EU: 20% on non-hormone-treated beef.
China: 25% due to ongoing trade disputes.
New Tariffs:
The U.S. will impose a 25% tariff on imported beef from supposedly all countries.
Reciprocal tariffs from key markets like Japan (24%) and the EU (20%) could further restrict exports.
Impact:
Domestic prices for beef are expected to rise sharply due to reduced imports.
Cattle inventories are already at multidecade lows, exacerbating supply shortages and driving up costs for consumers.
Pork Industry
Key Markets: China, Mexico, and Japan are critical for U.S. pork exports. China was the largest importer of U.S. pork in 2024.
Former Tariffs:
China: 25% during prior trade disputes.
Mexico: Zero tariffs under USMCA.
Japan: 4.3% under a trade agreement.
New Tariffs:
China has retaliated with an additional 15% tariff on U.S. pork.
Base tariffs of 10% will apply to other markets.
Impact:
Domestic production has risen by 1%, but retaliatory tariffs from China will limit export growth.
Pork prices have already increased by 19% year-over-year due to strong domestic demand and higher feed costs.
Chicken Industry
Key Markets: Mexico, Canada, and East Asia (notably South Korea).
Former Tariffs:
EU: Ban on U.S. poultry over chlorine-washing practices.
South Korea: 20%.
Mexico and Canada: Zero tariffs under USMCA.
New Tariffs:
EU’s ban remains in place; South Korea may impose reciprocal tariffs of approximately 25%.
Impact:
Chicken production is expanding to record levels domestically, but rising feed costs could push prices higher despite increased supply.
Export challenges may limit revenue growth for producers relying on foreign markets.
Turkey Industry
Key Markets: Mexico is the largest importer of U.S. turkey products.
Former Tariffs:
Mexico: Zero tariffs under USMCA.
Other markets had minimal barriers.
New Tariffs:
A baseline 10% tariff will apply to imports into the U.S., but retaliation from Mexico is unlikely due to existing trade agreements.
Impact:
Turkey production has slightly declined (-0.4%), but prices are expected to remain relatively stable compared to beef due to lower international exposure.
Conclusion
The "Liberation Day" tariffs introduce challenges for the meat industry:
Beef Prices Surge: Limited supply and high tariffs will drive up domestic prices.
Pork Export Struggles: Retaliatory tariffs from China will hurt producers reliant on international markets.
Chicken Growth vs Costs: While production expands, rising feed costs and export barriers could temper gains.
Turkey Stability: Minimal impact expected due to lower international reliance.
Overall, these tariffs aim to protect domestic industries but risk higher consumer prices and strained relations with key trading partners.
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