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Soy growers disappointed in additional tariffs, continue to seek export stability with largest customer

• Jul 13, 2018 at 8:00 AM

The American Soybean Association this week expressed extreme disappointment in USTR’s announcement that an additional $200 billion in tariffs will be imposed on Chinese goods.

The new list of goods will be subject to a 10 percent tariff. This action worsens the trade dispute between the U.S. and China, which have already initiated plans to impose $50 billion in tariffs on each other’s products.

“While trade tensions with U.S. soy’s largest customer continue to escalate, soy growers from across 30 states are in Washington, talking with the members of the Administration and Congress, urging them to rescind these tariffs and bring a sense of stability and certainty back to farmers who depend on trade,” said John Heisdorffer, ASA president and Iowa soybean farmer.

“The announcement of additional tariffs on China is a move in the opposite direction. We’re focused on increasing trade opportunities and keeping the robust and growing Chinese market we have worked for decades to secure. Our message to the administration and lawmakers remains the same: these tariffs needlessly hurt soy growers and rural communities.”

The American Soybean Association continues to encourage the administration to find a non-tariff solution to address its concerns with China, while also utilizing soy as the largest agricultural export to help reduce our nation’s trade deficit with China.

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20 products you buy that could be hit with tariffs

By Mary Ellen Podmolik - Chicago Tribune (TNS)

Kids who take up baseball or softball as well as anyone remodeling their kitchen, dealing with a flat bicycle tire or getting a dog could be caught in the crosshairs of the Trump administration’s latest salvo in the global trade war.

On Tuesday, the White House announced plans to impose a 10 percent tariff on $200 billion of Chinese goods after a public comment period. That means the tariffs could take effect sometime after Aug. 30, a month before U.S. retailers, many of them struggling, start the all-important fourth quarter leading up to the holiday shopping season.

This latest announcement of tariffs — essentially taxes charged on goods coming into the country — follows steep tariffs already announced on imported goods like washing machines and solar panels in January, and tariffs on $34 billion of Chinese exports earlier this month. China retaliated with its own list of tariffs on $34 billion of U.S. goods.

But unlike the earlier actions by the U.S. and China — which hit manufacturers and most notably in Illinois, soybean farmers, particularly hard — the latest effort takes direct aim at plenty of food products and finished consumer goods. Unless manufacturers or retailers are willing to swallow the extra costs themselves, they’ll be passed along to shoppers in the form of higher prices. A case in point: Shortly after the U.S. imposed tariffs on imported washing machines, South Korea’s LG Electronics said it would raise prices on most front- and top-loading washing machines sold in the U.S. by 4 to 8 percent.

The new list of more 6,031 items that could be subject to a tariff fills 194 pages. Here are 20 common consumer products on the list:

—Seafood, including some types of tilapia, cod, haddock, trout, salmon and swordfish.

—Dog leashes, muzzles and collars.

—Handbags.

—Luggage.

—Inner tubes for cars and bicycles.

—Pneumatic tires for buses, trucks, cars, motorcycles and bicycles.

—Bicycle speedometers.

—Vinyl floor tile.

—Plastic ponchos costing less than $10.

—Perfume.

—Golf bags of leather or composite leather.

—Baseball and softball mitts and batting gloves.

—Artificial fire logs.

—Furniture.

—Carpets.

—Stainless steel sinks.

—Window and wall air-conditioning units.

—Refrigerators and freezers.

—Buttons.

—Toilet paper.

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©2018 Chicago Tribune

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