Statement by Steve Nelson, President, Regarding China’s Tariff on U.S. Soybeans
“When President Trump first announced he was considering tariffs on Chinese goods, we voiced our strong concerns that such action would lead to retaliatory tariffs and a potential “trade war” with China, one of the largest consumers of U.S. and Nebraska agricultural products. Despite these warnings, this Administration moved forward. Over the course of the last three days those actions have led to China enacting retaliatory tariffs on U.S. pork, and today, U.S. soybeans. These actions have cost farmers hundreds of millions of dollars in lost value in agriculture markets at a time when they can least afford it. Nebraska farmers and ranchers and the markets they rely on should not be sacrificed as a negotiation tactic. It’s critical the United States and China stop the ‘eye for an eye’ tactics and return to negotiations that serve the greater good for both interests.”
Information provided by the Nebraska Farm Bureau.