MICHIGAN CORN GROWERS ASSOCIATION WEIGHS IN ON POTENTIAL TRADE WAR AND TARIFFS
A potential trade war has been brewing between the U.S. and China for almost a year. As things heat up, the world is anxiously waiting to see how it all will play out.
One of the latest volleys in the game came last Thursday when U.S. President Donald Trump called for imposing $100 billion in new tariffs on Chinese products. Earlier in the year, the U.S. imposed tariffs on imported solar equipment and steel and aluminum imports.
China, in turn, implemented more tariffs on 128 U.S. products, including fruit and pork, in response to the Trump administration’s decision to impose duties on steel and aluminum. China also announced additional tariffs on 106 U.S. products last week that included soy, cars and chemicals. No start date was given for those measures.
Following the more recent announcements of proposed tariffs, the Michigan Corn Growers Association (MCGA) issued the following statement in support of American free trade policies. The proposed tariffs on agriculture goods, including corn and ethanol, could directly impact the lives of Michigan farmers and the statewide economy:
“The Michigan Corn Growers Association continues to support fair and open trade policies that allow American corn farmers to remain competitive in global markets,” said Jim Zook, executive director of the Michigan Corn Growers Association. “If these tariffs move forward, there will be a direct negative impact on Michigan’s family farmers. Free trade policies have opened markets for American farmers, and policymakers should continue to focus on expanding those markets and creating new opportunities for growth. We hope for a swift resolution of the current dispute with China that leaves markets open and supports strong agricultural exports.”