China to impose more tariffs, ag concerns continue
China announced Friday it will impose tariffs on $60 billion more of U.S. products in retaliation for President Donald Trump’s announcement that the United States may raise the tariff on $200 billion in Chinese goods from 10 percent to 25 percent.
The highest penalties in the new list would be imposed on honey, vegetables, mushrooms and chemicals, targeting farming and mining areas that supported President Donald Trump in the 2016 election, the Associated Press reported.
U.S. farmers are expressing increasing concern about the impact of retaliation resulting from the Trump administration’s tariffs on steel and aluminum on national security grounds.
In a front-page article about a Wisconsin farmer who has lost the European market for kidney beans, The Wall Street Journal today said U.S. agricultural businesses are “reeling” from the tariffs.
Farmers who planted specialty crops to protect themselves from the vagaries of the commodity market are “especially exposed,” said the Journal article, which is behind a paywall.
–The Hagstrom Report