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Trump says pump up the china tariffs
Story Date: 3/15/2018
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Source: POLITICO'S MORNING AGRICULTURE, 3/14/18
President Donald Trump wants to load up on the tariffs. That was the message to U.S Trade Representative Robert Lighthizer, who presented a tariff proposal that could end up hitting $30 billion worth of Chinese imports, POLITICO's Adam Behsudi and Andrew Restuccia first reported.
The expected action against China would be done in response to allegations of intellectual property theft. Trump told Lighthizer to aim for an even bigger number for the tariffs and has told aides that he wants to roll something out as soon as next week.
Farmers could get hit the hardest: Trade experts think that China will swiftly retaliate, especially against U.S. farmers who rely on the Chinese market as a major destination for soybeans, pork and other commodities.
"I think China is going to have to respond. The question is, are they going to do that in a targeted way, or are they going to escalate dramatically?" asked Matthew Goodman, a senior adviser and Asian economic expert at the Center for Strategic and International Studies.
On Monday, the American Soybean Association asked Trump to "modify, if not reverse, [his] decision to avoid a trade war that could seriously undermine our industry, which is highly dependent on trade."
China has become the biggest buyer of U.S. soybeans. Last year, American soybean growers shipped more than half of their total exports to China - sales that could be largely curbed if China chooses to impose restrictions or sets its eyes on soybeans from other countries like Brazil.
Other changes eyed: Aside from tariffs, the administration is said to be considering restricting Chinese visas or tightening controls on exports of certain goods or technologies that have both military and civilian uses. Unilateral action, however, raises questions about strategy, Adam and Andrew write.
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