On Tuesday President Biden announced a surge of increased tariffs on imported Chinese products under Section 301 of 1974’s Trade Act. The tariff hikes will be applied to $18 billion worth of imports from China including electric vehicle batteries and computer chips.
How will China respond to President Biden’s increased tariffs on imported Chinese goods? United States Senator Chuck Grassley (R-IA) says it is difficult to predict what China might do in response.
Grassley says that the Trump administration used CCC funds to help offset losses to American farmers, a strategy he disagrees with.
Although he doesn’t know what China’s response will be, Grassley says he thinks that United States agricultural exports could be a target of retaliation for the Chinese government.
Grassley says that increased tariffs always include the threat of retaliation and issues for international trade.
Senator Grassley made his comments on Wednesday morning during his weekly ag conference call with farm broadcasters and reporters.
