US pork producers prepare for steep tariffs: 'I don't want to be the patriot who dies at the end of

[Yo_Mama_Been_Loggin]

U.S. pig farmers are bracing for another round of steep tariffs this week from China and Mexico following President Trump's decision to impose hefty tariffs on the two countries.

According to CNBC, some major U.S. pork producers fear they will lose a significant amount of money once China and Mexico implement the tariffs, forcing some to move their investments overseas.

China is expected to begin fetching a 25 percent tariff on U.S. pork imports on Friday. Mexico, which imposed a 10 percent tariff on pork imports last month, is expected to double its import tax to 20 percent on Thursday. CNBC reported that China's taxes will exceed 70 percent when combined with previous import taxes.

"We put a halt on all investment, not just because we will be losing money, but because we don't know if growing in the U.S. is the right move if we won't be an exporting country," Ken Maschhoff, chairman of Maschhoff Family Foods and co-owner of the nation's biggest family-owned pork producer told CNBC.

Maschhoff told the outlet that the farm industry has been "asked to be good patriots."

"We have been. But I don't want to be the patriot who dies at the end of the war," he continued. "If we go out of business, it's tough to look at my kids and the 550 farm families that look us into the eye and our 1,400 employees."

http://thehill.com/policy/finance/395543-us-pork-producers-prepare-for-steep-tariffs-i-dont-want-to-be-the-patriot-who

[matt819]

1. And yet,

I’ll bet he’ll look at those 1400 employees and 500 Farm families in the eye and still vote for trump and republicans again because only white farmers should be able to get government stuff, not poor people or minorities.

[dalton99a]

2. Maschhoff the Trumpster will be fine:

https://www.agriculture.com/livestock/pork-powerhouses/the-pork-empire-of-ken-maschhoff

The Pork Empire of Ken Maschhoff
By Betsy Freese
9/16/2017

SF: You invested in the Gold'n Plump chicken business in 2013 and then sold it recently. What is the strategy?

KM: We bought Gold'n Plump (GNP) because we wanted to diversify within protein. We learned a lot about branding. We sold that business earlier this year to Pilgram’s Pride. It was a tremendous offer, and the timing couldn’t have been better. When we purchased the company, our brand, JUSTBare Chicken, had 60% of the antibiotic-free market in the country. By the time we sold it, that was down to 15% market share because everybody was doing it. What was special about the company was being somewhat commoditized. We also felt that Pilgrim’s Pride could take the business further than we could and provide those GNP employees an opportunity to grow in new areas.

We had something we thought was going to be more valuable today than it would be three to five years down the road. We learned a lot by owning the poultry business, and it was a great financial investment for us. The Maschhoffs have always been very opportunistic.

SF: Have you diversified outside of agriculture?

KM: We own an asphalt business in Las Vegas and a fire safety and suppression company in St. Louis. We invested in those businesses in 2007-2009 because they offered better risk-adjusted returns than the pork industry. We have always thought we should be diversified and not have all our eggs in one basket.

Our former CFO operates a hedge fund for us, giving us great flexibility and liquidity

SF: What else keeps you up at night?

KM: We have slipped as a country closer and closer to more of a socialistic society. In the next 10 years, we will have socialized medicine similar to Europe or Canada. We are moving from a purely capitalistic society where people are used to certain returns. I believe the success of American business is largely a result of the entrepreneurial liberties that our constitution and capitalistic system allows. That belief has eroded over recent decades.

SF: Why have you been successful?

KM: First, I thank God for blessing us. blah blah blah

[roamer65]

3. I have a great idea for this Dump lover.

You can sell your pork to Canada at half the market price. Then the Canadians can sell it to China at full price. Send the bill for you loss to your dear leader.

Then you can go fuck yourself.

[Cha]

6. And, Ken is NOT a patriot

his loyalty is to Russia.

We're the

[TeamPooka]

7. Dude would sell air to people who need to breathe if he could.

[Thekaspervote]

4. Obviously Your patriotism plays second fiddle to your republicanism

You deserve the kind of patriotism you voted for. Blockhead!!

[Cha]

5. If Ken Maschhoff voted for trump I have news for

him.. he Is Not a Patriot.

Your loyalty is to Russia

We're the Patriots

Link to tweet