Tidbits, Tariffs Updates, Wheat Crops, Job Openings, Market Comment 6/3/26
- Wright team
- 1 hour ago
- 4 min read
Tidbits
Tariffs & Trade: The Trump administration on Tuesday proposed imposing additional duties of 10% or 12.5% on imports from 60 economies after determining their failures to curb trade in goods made with forced labor are unreasonable and restrict U.S. commerce.
The proposal from the U.S. Trade Representative's office is the latest finding from a Section 301 unfair trade practices investigation to be released as the Trump administration seeks to rebuild its emergency tariffs, which were struck down by a U.S. Supreme Court decision in February.
10% goes to Canada, Ecuador, the European Union, Mexico, Pakistan, Argentina, Bangladesh, Cambodia, El Salvador, Guatemala, Indonesia, Malaysia, Taiwan and Britain.
The remaining 45 countries will get 12.5%.
Meanwhile, the USDA launched a Trade Mission to Argentina and Ecuador (which are in the 10% list!) this week to open new markets and strengthen export opportunities for American farmers, ranchers and producers.
In 2025, the U.S. exported $166 million in seeds, essential oils, livestock genetics, tree nuts and more to Argentina. The same year, $595 million in agricultural products were exported to Ecuador, including soybean meal, wheat, and other feeds and fodders.
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