Ag groups have spent weeks engaging the Trump Administration for more insight into the future of trade tariffs. Those agricultural producers and related industries that depend on exports are now turning to Congress for help. The White House declared that Friday would be the day it announces the final list of $50 billion in Chinese products that would be charged a 25 percent tariff under Section 301 of the Trade Act of 1974. In response, China says it will impose tariffs on approximately 106 U.S. goods amounting to approximately $50 billion.
“Adding a 25 percent tariff on exports to China for U.S. wheat is the last thing we need during some of the worst economic times in farm country,” says National Association of Wheat Growers President Jimmie Musick. National Corn Growers Association President Kevin Skunes says, “Farmers cannot afford the immediate pain of retaliation, nor the longer-term erosion of long-standing market access with our closest allies.” Dennis Slater, President of the Association of Equipment Manufacturers, says, “Tariffs are taxes on American consumers and will put good-paying U.S. manufacturing jobs at risk.”