FFT Happy With First Steps With China

Many in Ag, and even those outside of Ag, applauded the recent announcement that the U.S. and China would halt any further escalation in their trade dispute and try to resolve their differences.  The U.S. had scheduled more tariff increases for January of 2019.  Farmers for Free Trade co-founder and Deputy Director, Angela Hofmann, said this is just what the farming community wanted to hear.

“Farmers have been anxiously anticipating some good news, and by all accounts this is a step in the right direction.  Our largest trading partner is back at the table, that’s an almost $20 billion market for U.S. Agriculture, so I think that movement in particular, is welcomed news in time for the holidays.”

While Hofmann said the announcement was good news, she was quick to point out that there are still a lot of specifics that need to be addressed.

“Overall, farmers are cautiously optimistic, there’s not clarify about when or where, or a schedule, and I think the bigger question about the tariffs that are currently in place.  And what this agreement doesn’t do is remove the current tariffs on imports and on steel and aluminum that are driving up a lot of the input costs.”

Hofmann said that’s creating a lot of concern about what the bottom line will look like into the future.  Above all, she said farmers want free trade to resume as quickly as possible with China.

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