Curt Petrich, president of the Northern Food Grade Soybean Association acknowledges of which the global trade imbalance should be managed, although said “there is usually a better way of addressing our partners than starting a trade war.”
The pain of of which tariff war is usually one-sided according to some agriculture experts in addition to the Chinese will not feel a pricing pinch. Blake Hurst, president of the Missouri Farm Bureau explained the Chinese tariff on soybeans is usually acting as a pro-Chinese cost wedge. “With prices of soybeans depressed because of trade war fears, the 25 percent tariff only raises the cost of U.S. soybeans to 2017 levels.
The Chinese are not impacted at all,” said Hurst. “The soybean farmers across the country are the ones feeling the pain. Long-term, of which is usually not Great for the farmers.”
What’s more, steel tariffs are raising the cost of equipment, adding to farmers’ pain, Wilson said. “There have been comments of which the farmers will be taken care of although they are anxious to see what of which means. There are fears of bankers calling at the end of the year not renewing lines of credit,” he added.
Senator Heidi Heitkamp (D-N.D.), member of the Agriculture committee who helped pass the bipartisan farm bill four years ago tells CNBC, the timing of these tariffs in addition to the pressure the item is usually having on farmers couldn’t come at a worse time.
“The Farm Bill is usually set to expire in September in addition to NAFTA renegotiations continue. There is usually so much uncertainty. North Dakota farmers are rightfully concerned. The United States’ trade war with China, as well as with some of our key allies, is usually already directly hurting them. We need to use trade enforcement to rein in China’s unfair trade practices, although of which isn’t the way to do the item. of which administration cannot play chicken with our farmers.”
“Given the latest round of tariffs, the soybean processors fear of which trade war will be long-term,” said Wilson. “No one is usually talking to each some other in addition to public comments still have to be submitted in addition to heard. the item’s going to take a while.”
Correction: of which article was updated to accurately reflect when the farm bill was passed.