Tariffs Impact Uncertain On Agri Industry

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The Chinese government announced Wednesday plans to institute a 25% tariff on $50 billion worth of U.S. imports, including several agri commodities produced in Arkansas. It’s another move in what is perceived as an escalating trade war between the two countries.

A timetable for the implementation of this latest round of tariffs is not known, and with so much uncertainty it’s hard to gauge what the impacts will be to soybean, cotton, and pork producers, Arkansas Agriculture Secretary Wes Ward told Talk Business & Politics.

Arkansas farmers are projected to grow 3.6 million soybean acres in 2018, Ward said. China imports about $14 billion in soybeans, and is the second largest export market for the U.S. Ward said he isn’t concerned about international trade wars touted by President Donald Trump, but state officials are keeping a keen eye as events unfold.    MORE

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