Trade policy is still front and center, with many lawmakers backing President Trump on tariffs.
North Carolina Senator Tedd Budd says there is good reasoning behind the moves.
“We’re just matching what other people have been doing to us for years, and hopefully we can it will remind these countries that we can move towards free trade or less tariffs, and let’s start working them back down to zero, but this is a result of them treating us unfairly for years.”
Budd says other countries need to lower their own tariff rates before the U.S. takes any action. This week, President Trump told reporters he paused tariffs to protect U.S. farmers. However, the National Ag Law Center says the tariff threat still hangs overhead.
“But there’s still the promise, very publicly, of more to come and those still coming back. But at the same time, unless I’m missing it, we’re not seeing any changes in the retaliatory side, and that’s always, to me, been the real issue for agriculture. What gets boomeranged back our way?” said Harrison Pittman.
Yesterday, the European Union hit the U.S. with tariffs on $28 billion worth of products, including goods like almonds, pork, dairy, and soybeans, which is our largest export to Europe.
Shaun Haney joined RFD News to discuss the potential impact of the Trump-Xi summit uncertainty, ongoing agricultural trade talks, and why geopolitical developments could carry important implications for farmers and global commodity markets.
