Farmers for Free Trade Said 60% Tariffs on China Would Kill Ag Exports
Trade groups representing corn and soybean farmers say that if Donald Trump imposes 60% tariffs on Chinese imports, as he has promised to do if re-elected, it would devastate their exports to China.
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
A study commissioned by the National Corn Growers Association and the American Soybean Association said it expects China to re-impose tariffs on soybeans that it paused as part of the Phase 1 agreement in that scenario, and that would lead to a decline of about 52% in soybean exports to China. The study projected exports of corn would fall 84%.
Farmers for Free Trade Board President Bob Hemesath said: “Exports help keep farmers afloat. Returning to a global trade war would be a gift to competitors like Brazil and Argentina, would hike the price of ag inputs, and would have long-lasting impacts on the livelihoods of farmers like me. We can be tough on China without creating self-inflicted wounds."