Farmers for Free Trade Warn of Trickle Down Effect that Trade War with China will Have Over TariffsWed, 04 Apr 2018 12:11:20 CDT
Today, Senator Max Baucus, Co-Chair of Farmers for Free Trade, released a statement after China announced plans to target U.S. ag exports as retaliation for U.S. tariffs stemming from the section 301 investigation. The full list of U.S. exports being targeted by China is available here.
“American farmers are waking up this morning to the prospect of a 25% tax on exports that help sustain their farming operations. Farmers are watching as commodity futures tumble and the costs of a trade war come directly out of their pockets. Cotton, soy, sorghum, beef and the other commodities China has targeted are at the heart of the American agricultural economy. These commodities support not only farmers, but entire rural communities. A 25% export tax on these commodities into our second largest agricultural export market will hurt farmers, but also harvesters, processors, truck drivers, rail workers, and main street businesses that rely on a strong agricultural economy. We urge the Administration to reconsider escalating this trade war and will continue to work to amplify the voices of American farmers who are paying the price for it.”
Source - Farmers for Free Trade
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