One New trade war between the United States and China can expand the economic difficulties of US soy producerswho have not yet completely recovering from the 2018 tariff conflicts in the first government of Donald Trump, said in a statement to the American Soybean Association (ASA).
This is because, with the application of US fees, soybean producers in Brazil and other countries with abundant harvests will be “ready to meet any demand resulting from the clash.”
“As the main US export culture, soybeans and its producers face huge and disproportionate impacts because of interruptions on trade flow, particularly for China, which is our largest market,” wrote the entity’s president Caleb Ragland.
According to Ragland, farmers are frustrated with Trump’s tariff measures, noting that members do not support the use of tariffs as a trading tactic.
According to the statement, Mexico is the second largest buyer of soybeans in grain, bran and oil in the US, while Canada is the fourth largest client for the bran. Other than that, the US imports most of the potassium it uses from Canada, as well as other agricultural inputs and equipment.
Given this, the wing requested, in the statement, for the administration to “reconsider these tariffs and the potential future tariffs mentioned by President Trump, and continues negotiations with the three countries that include non -tariff solutions.”
Since taking office for a second term in the US, Trump has announced 25% tariffs on imports from Mexico and Canada, as well as an additional 10% tariff on Chinese imports.
In response, Canadians reported 25% near US $ 100 billion in US imports, while China will apply 10% retaliatory rates on soybeans and limit market access. Mexico promised to apply retaliatory measures, not yet disclosed.
On Thursday (6) one day after postponing 25% charging for imported cars from Canada and Mexico for a month, Trump also decided to postpone up to at least April 2 the collection of new tax rates for Mexican and Canadian products that appear in the US-Mixico-Canada agreement (USMCA). The ones imposed on China are in force.
