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

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…