President Trump said overnight he had a phone call from China and they want to have further talks and are anxious to strike a trade deal.
This comes after Friday when China announced retaliatory tariffs on $75 billion in U.S. goods and reinstated levies on American auto products. Nebraska Pork Producers Association President Tim Chancellor says the escalation of the trade war is tough for pork producers and all of U.S. agriculture. He says a trade war resolution is badly needed.
He says the average American pork producer has seen a steep drop in the price of their product due to the trade tensions.
Chancellor says as the trade war goes on, the U.S. continues to lose market share in China.
The latest tariffs China put on the U.S. will range from 5 to 10 percent and will hit in two rounds, on September 1 and December 15. These are the same dates President Trump’s latest tariffs on $300 billion in Chinese goods are slated to take effect.
