Source: POLITICO'S MORNING AGRICULTURE, 6/25/18

Few industries have been hit harder by President Donald Trump's tariffs than pork, where producers have gone from predicting growth at the beginning of the year to worrying about losing market share in two of their three biggest markets, Mexico and China. Pork producers already took a blow in 2017 when Trump pulled the U.S. out of the Trans-Pacific Partnership, putting producers in an awkward position with Japan — the biggest importer of U.S. pork by value, according to the National Pork Board.

Pork has been targeted by tariffs at every step of the way, first showing up on a retaliatory list released by China after the Trump administration imposed $3 billion worth of duties on steel and aluminum in March. China is the third largest importer of U.S. pork, buying a little more than $1 billion worth of product in 2017. But producers are much more concerned about losing market share with our neighbor to the south. Mexico's 10-percent tariff on pork will jump to 20 percent on July 5, and the largest importer of American pork by volume is already in discussions with the European Union about ramping up cross-Atlantic imports.

The USDA's livestock, dairy and poultry outlook report released June 18 predicts hog prices are expected to average 19 percent lower in the third quarter and 17 percent lower in the fourth quarter, compared to prices from last year, in part due to price adjustments to Mexican tariffs.

Grassley has no interest in handouts for Iowa farmers: Grassley told reporters during his weekly ag briefing last week that Trump pointed to Agriculture Secretary Sonny Perdue before telling a group of governors and lawmakers the federal government would subsidize any losses faced by farmers due to tariffs. "I can also say that's not what my farmers in Iowa want - help from the federal treasury," Grassley responded. He reiterated his displeasure with the idea to Commerce Secretary Wilbur Ross at the Senate hearing on the tariffs last week.