07/13/2018

USTR Seeks Comments on Tariffs

The tariff fight is very concerning to soybean producers and other farmers

The United States Trade Representative (USTR) is seeking public comment on the latest round of tariffs on Chinese imports implemented by the Trump administration. Business leaders are concerned that the trade tariff policies implemented by the Trump administration are likely to trigger a global trade war that will hit U.S. industries and consumers hard.

The White House earlier this week identified an additional $200 billion in Chinese products that it intends to hit with tariffs after China retaliated for tariffs on $34 billion in Chinese goods that went into effect last Friday.

The escalating tariff fight is very concerning to soybean producers and other farmers, according to Sen. Charles Grassley (R-IA).

“I hope he knows what he’s doing,” Grassley said of President (Donald) Trump this week. “I’m very, very nervous about it and my constituents are very, very nervous about it.”

To reassure rural America, the White House this week dispatched Vice President (Mike) Pence to speak to farmers in three Midwestern states.

“Our president is going to keep fighting for trade deals that are free and fair and reciprocal,” Pence said at an event in Kansas City.

Requests to testify at a USTR hearing on the latest round of tariffs on Chinese goods are due by July 27 and written comments must be submitted by Aug. 17. The House Ways and Means Trade Subcommittee will also hold a hearing to examine the effects of U.S. tariffs and retaliatory tariffs on U.S. exports on July 18.

This article was provided to OSAE by the Power of A and ASAE's Inroads.