Newhouse Fears Retaliation After Trump Announces Tariffs

President Trump took American investors by surprise Thursday, as he announced that he will be imposing the long-rumored steel and aluminum tariffs next week.  The president will impose a 25% tariff on steel imports and a 10% for aluminum.  Trump told a meeting of steel and aluminum executives that he’ll sign the paperwork next week.

Many in the ag community are concerned this tariff could trigger retaliation against American ag exports.  Representative Dan Newhouse told the Washington Ag Network this type of retaliation is not uncommon.

“You know, this is a balance I would agree that we need to be certain that other countries are not dumping product in the United States, which is in my mind points to the importance of being part of agreements whether they are multilateral or bilateral.”

Newhouse noted if the U.S. were part of trade pacts, there would be legal channels to challenge alleged dumping.

U.S. Wheat Associates and the National Association of Wheat Growers both expressed their disappointment in the Trump administration Thursday, saying wheat growers will be hurt by this decision.

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