U.S., China Trade War Continues

24.08.2018 09:00 "Agro Perspectiva" (Kyiv) — According to the report of the American Soybean Association, the office of the U. S. Trade Representative (USTR) moved forward today with a 25 percent tariff on $16 billion of Chinese goods, which completes President Donald Trump’s June 15 announcement that he would place $50 billion in tariffs on Chinese goods. These tariffs impact 279 product lines. China retaliated with its own additional tariffs on $16 billion in U.S. goods, which do not include any new tariffs on U.S. soybeans.

The American Soybean Association (ASA) urges the Administration to rescind the Section 301 tariffs, highlighting the long-lasting impact tariffs will have on the Chinese market share that U.S. soybean farmers have worked for decades to create. ASA continues to highlight the opportunity soy has as the largest U.S. agricultural export to be part of a solution to our trade deficit with China, and stresses the importance of creating other long-term market opportunities in other regions, such as Canada and Mexico, and countries in the Asia Pacific.

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