U.S. cheese industry gets creamed by trade war

U.S. & World

(CNBC) While a record amount of dairy is being produced across the country, new tariffs on U.S. exports have drastically reduced overseas sales.

Both Mexico and China have slapped U.S. cheeses with retaliatory tariffs of up to 25 percent, while Canada, at some point, hits U.S. dairy exports with duties of up to 275 percent.

Because American cheese makers can’t rely on foreign sales, a record amount of the beloved dairy product is sitting in cold-storage. 

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