The American Soybean Association today expressed extreme disappointment in USTR’s announcement that an additional $200 billion in tariffs will be imposed on Chinese goods. The new list of goods will be subject to a 10 percent tariff. This action worsens the trade dispute between the U.S. and China, which have already initiated plans to impose $50 billion in tariffs on each other’s products.
“While trade tensions with U.S. soy’s largest customer continue to escalate, soy growers from across 30 states are in Washington, talking with the members of the Administration and Congress, urging them to rescind these tariffs and bring a sense of stability and certainty back to farmers who depend on trade,” said ASA President and Iowa soybean farmer John Heisdorffer.
“The announcement of additional tariffs on China is a move in the opposite direction. We’re focused on increasing trade opportunities and keeping the robust and growing Chinese market we have worked for decades to secure. Our message to the administration and lawmakers remains the same: these tariffs needlessly hurt soy growers and rural communities.”
The American Soybean Association continues to encourage the Administration to find a non-tariff solution to address its concerns with China, while also utilizing soy as the largest agricultural export to help reduce our nation’s trade deficit with China.
Information provided by the American Soybean Association.