Iowa Republican leaders voiced concern Tuesday about a trade war after President Donald Trump upped the trade ante with China, threatening to slap tariffs on another $200 billion of products.
"We know what happens when tariffs are increased ... and there's retaliation. It hurts agriculture. It's going to hurt Iowa tremendously," U.S. Sen. Chuck Grassley said during a weekly call with reporters.
The new Trump tariffs, announced Monday, come days after the U.S. and China each said they'd level tariffs on $50 billion of goods.
The 25 percent tariffs, slated to go into effect July 6, capture hundreds of U.S. goods, including soybean exports.
They could cost Iowa farmers about $624 million, given reduced demand and prices, an Iowa State University economist estimates.
And new Chinese tariffs already in place on pork could cost Iowa producers $360 million.
Iowa Gov. Kim Reynolds said Tuesday the tariffs threaten a "fragile ag economy."
"Our farmers want to work with you, but we need to get something done," the Republican said, noting that the rest of Iowa's economy had started to "grow and boom."
"Agriculture is always the first casualty when we’re talking about trade negotiations. Our farmers are producers, and they just want access to markets," said Reynolds, adding that she would again reach out to the White House and Cabinet members with her concerns.
Sen. Joni Ernst said the "tariffs are nothing more than a tax on Iowa farm families."
https://www.desmoinesregister.com/s...fs-grassley-trade-war-donald-trump/713536002/
Suddenly, they're shocked that Trump is doing what he said he would do. They have no one to blame but themselves.
"We know what happens when tariffs are increased ... and there's retaliation. It hurts agriculture. It's going to hurt Iowa tremendously," U.S. Sen. Chuck Grassley said during a weekly call with reporters.
The new Trump tariffs, announced Monday, come days after the U.S. and China each said they'd level tariffs on $50 billion of goods.
The 25 percent tariffs, slated to go into effect July 6, capture hundreds of U.S. goods, including soybean exports.
They could cost Iowa farmers about $624 million, given reduced demand and prices, an Iowa State University economist estimates.
And new Chinese tariffs already in place on pork could cost Iowa producers $360 million.
Iowa Gov. Kim Reynolds said Tuesday the tariffs threaten a "fragile ag economy."
"Our farmers want to work with you, but we need to get something done," the Republican said, noting that the rest of Iowa's economy had started to "grow and boom."
"Agriculture is always the first casualty when we’re talking about trade negotiations. Our farmers are producers, and they just want access to markets," said Reynolds, adding that she would again reach out to the White House and Cabinet members with her concerns.
Sen. Joni Ernst said the "tariffs are nothing more than a tax on Iowa farm families."
https://www.desmoinesregister.com/s...fs-grassley-trade-war-donald-trump/713536002/
Suddenly, they're shocked that Trump is doing what he said he would do. They have no one to blame but themselves.
