The U.S. Trade Rep is proposing fees on Chinese-built and operated ships. It comes in an effort to counter its dominance in global shipping.
However, many are concerned it could result in increased transportation costs for U.S. farmers.
American Farm Bureau Economist Danny Munch spoke with RFD-TV’s Suzanne Alexander on what these fees target, how much this would cost U.S. farmers, and additional concerns for producers.
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Canadian Prime Minister Mark Carney says the retaliatory tariffs aim to protect Canadian industries by targeting sectors including steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics.
Additional 50 percent U.S. tariffs on Canadian goods are now in effect as Canada vows retaliation and ag groups urge trade negotiations to continue.
Farmers should monitor the Union Pacific-Norfolk Southern merger and conditions along the Mississippi River and Panama Canal as they plan for harvest.
Analysts are watching global oil flows as demand increases.
Industry leaders and lawmakers are looking at legal pathways to address the need for farm workers.
President Donald Trump announced late Tuesday that new U.S. tariffs on Canadian goods are on hold for three days, saying the two countries are close to finalizing a deal.