Coalition for a Prosperous America Members are supporting President Donald Trump’s decision to raise tariffs on $200 billion of Chinese goods from 10 to 25 percent on Friday. He also wants to impose a 25 percent tariff on an additional $325 billion of Chinese goods shortly. CPA CEO Michael Stumo says China is an enemy of the U.S. and is threatening to destroy America’s economy.
He says U.S. agriculture and economic policy needs to change.
Stumo says hiking the tariffs on China will actually benefit the U.S. economy.
Stumo says the U.S. has an oversupply situation that needs to be managed. He also says the U.S. has a dollar exchange rate that’s 27 percent too high and is putting 67 percent downward pressure on corn and soybean prices. Stumo says last year the U.S. ran a record $419 billion trade deficit with China which is unsustainable.
