White House looks to fight inflation by lifting tariffs on China
The Biden administration says that it is time to lift Trump’s tariffs on China to fight inflation.
This comes as the country confronts a 40-year inflation high. AFBF’s Dave Salmonsen says that despite earlier Phase One waivers for some U.S. farm goods, the tariff regime remains a threat.
According to Salmonsen, “They could put some of these high tariffs back on U.S. products anytime. And not all tariffs, all U.S. ag products to China have been granted waivers-- think about ethanol, dry distillers grains-- there are still some things that face high tariffs, and we haven’t got much in the way of sales to China because of that.”
He says that the costs of imported steel is one of the reasons farmers are seeing a higher cost in materials.