Chinese negotiators will be in the U.S. later this week to speak with U.S. Officials in low level discussions about resolving the trade war. While those talks are going on, U.S. Trade Representative Robert LIghthizer is starting six days of hearings on their proposed list of $200 billion in Chinese goods that will be targeted with tariffs of up to 25 percent. And the U.S. is poised to launch another round of tariffs on $16 billion of Chinese goods. American Soybean Association President John Heisdorffer says it’s all unsettling and he wishes there would be resolution worked out to the trade war.
He says even if the U.S. and China come to a resolution, it will take U.S. farmers and ranchers a long time to recover from the tariff impacts.
Heisdorffer says bankers are getting nervous about the effects of the trade war and whatever hit U.S. agriculture takes will trickle down to rural towns and cities.
The administration is hoping this week’s discussions with the Chinese will help set the framework for high level trade talks between President Trump and China’s President in November.
