As the nation prepares for the Presidential election this November, ag groups and economists are preparing for any potential impacts on agriculture.
One group is looking to China and how U.S. tariffs on their exports would impact trade and their economy. The Trump Administration relied heavily on tariffs of Chinese exports. Ag investors at USB say if those tariffs were enacted again, they would have a big impact as exports are a main economic driver for China.
Analysts found a 60 percent tariff on all Chinese exports to the U.S. could cut the country’s growth rate by more than half. Those losses could spark retaliation, and some economists say producers would not benefit from a trade war.
