As China and the United States engage in a tariff tug of war, China is placing levies on U.S. farm goods and making purchases from America’s competitors. However, U.S. senator Chuck Grassley (R-IA) says some of those losses can be offset.
Grassley confirms that China is looking elsewhere for some commodities as its tariffs make commodities from the U.S. more expensive.
Grassley referring to the first Trump trade war with China during his first term in office. He goes on to say that if China does turn to Brazil for soybeans, that does provide some opportunities for United States farmers.
China has imposed ten percent retaliatory tariffs on U.S. soybeans, pork and fruit, and 15 percent on corn, wheat, and chicken. And President Trump just upped tariffs on Chinese goods to 245 percent after China increased to 125 percent on most U.S. goods.
