Friday, April 6, 2018

China announces latest Tariffs, targeting US Wheat


Washington--China announced another round of tariffs, this time on more than 100 American-made products, including wheat. It’s the second time China  imposed tariffs on American imports this week.

Just last Monday, China released a list of 128 American products it would impose $3 billion worth of tariffs on. Then on Tuesday, the U.S. came up 1,300 Chinese goods on a new tariffs list.

Thursday, China put out another list of 106 items that it would raise prices on – including wheat.

“It's not going to impact us that much,” says Blaine Jacobson, Executive Director of the Idaho Wheat Commission. “But tariffs for the most part are not a good idea for American agriculture because  half of US Ag products are exported.”

Jacobson says at least half of Idaho’s wheat is shipped abroad. It goes to Japan, Taiwan and Indonesia, along with countries in Latin America. While Jacobson watches the situation with China, he’s more concerned with Mexico and Canada NAFTA negotiations.

“Mexico is has more impact in Idaho if they were to take less wheat, then the wheat from the Midwest would be on the market and hurt prices for our farmers,” Jacobson says. “And that would really impact Idaho.”

With China tensions theres a new sense of NAFTA urgency and the Canadians say the US trade office is being more constructive now than in the past eight months of negotiations.

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