Administration Adds Additional Tariffs To China

On Monday, the Trump Administration announced intentions to place a 10% tariff on $200 billion worth of Chinese goods.  The President said he may also call for an additional $267 billion worth of tariffs on Chinese products.  In response, China has already implemented retaliatory tariffs on $60 billion worth of American products.

National Farmers Union has expressed concerns with the escalating trade war with China.  NFU Vice President Rob Larew said while the organization agrees with the President’s efforts to address China’s unfair trade behavior, this method puts American farmers in the cross hairs.

“The administration’s current strategy has created serious and potentially irrevocable problems for American farmers and ranchers. The loss of export markets and severely depressed commodity prices cost wheat, soy, and corn growers to the tune of $13 billion dollars in the month of June alone; yesterday’s announcement to escalate tensions further will undoubtedly cost them billions more in the years to come.

Larew noted the effect these tariffs will have on export markets is not a temporary problem, so a temporary solution will not be sufficient.

“We call on Congress and the administration to establish meaningful, long-term safeguards that will prevent family farmers and ranchers from collapsing under the weight of a global trade war.”

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