China is threatening to impose stiff retaliatory tariffs on U.S. pork and soybeans, and that has U.S. producers worried.
China’s wasted no time in coming up with a 3 billion dollar list of U.S. targets for retaliation for billions in U.S. tariffs on Chinese metals and IP-related goods.
Politically-sensitive U.S. pork and soybeans, as feared, are on China’s retaliation list.
Iowa GOP Ag Senator Chuck Grassley reminded President Trump’s trade chief at a Senate Finance hearing last week…
China’s Commerce Ministry has listed 120 products for a 15-percent duty if trade differences are not resolved, and some, including pork for a possible 25-percent tariff.
National Pork Producers spokesman Dave Warner says the U.S. sells a lot of pork to China…
Followed by Japan…
Still, both Democrats and Republicans in Congress agree, China is the single-most important threat to U.S. trade. President Trump now plans $50 billion in tariffs to curtail hundreds of billions in Chinese theft of U.S. intellectual property and forced technology transfers.
