Mexico pork tariff threats push Iowa losses to $560 million

Iowa pork producers already dealing with a 25 percent tariff on U.S. pork exports to China could face another trade hit, with Mexico considering a 20 percent tariff on hams and pork shoulders.Growing trade worries have cut pork prices in recent weeks, costing Iowa producers about $560 million, said Dermot Hayes, an Iowa State University economist.Mexico is the largest export market for U.S. pork, based on volume.Mexico bought $1.5 billion of U.S. pork last year, followed by China-Hong Kong at nearly $1.1 billion.The tariffs are "potentially devastating news for Iowa’s pig farmers and the rural Iowa economy," said Gregg Hora, president of the Iowa Pork Producers Association.