California farmers and Mexican cheese sales, U.S. trade war takes a toll Jul 27 2018 [Reuters]
CME Group Inc. - Class A (CME)
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Source: Reuters
California farmers and Mexican cheese sales, U.S. trade war takes a toll | Reuters 5 Min Read TULARE, Calif. (Reuters) - Stephen Mancebo, a fourth-generation California dairy farmer with 2,300 cows, has battled ups and downs in his temperamental industry for a quarter-century only to find himself a casualty of a U.S trade war with one of his biggest customers - Mexico. Mancebo, 47, represents one of approximately 1,300 dairy farm families eking out a living in California on the narrow margins of an enterprise that increasingly relies on exports. For Mancebo and other U.S. dairy farmers and processors who turn milk into cheese, butter and other products, the trade war is threatening to snuff out a nascent rebound from three years of slumping prices that have driven nearly 140 California dairies out of business. In retaliation for tariffs that President Donald Trump imposed on imports of steel and aluminum, Mexico in late May announced duties on cheeses, other farm products and metals f
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