Minnesota Pork Producers Association President Greg Boerboom is pleasantly surprised with the progress made on the U.S. China trade war at the G20 Summit. President Trump announced his administration would hold off on higher tariffs of 25 percent on $200 billion worth of Chinese goods scheduled for January 1 during the 90-day negotiation period. Boerboom says while there are still issues to work out the agreement has the potential to be very good for Minnesota and U.S pork producers.
He says the President has been trying to help farmers and ranchers withstand the impact of the trade war with the aid package, but a deal is a long way from the finish line.
He says both China and the U.S. need to trade with each other and both country’s leaders realize the necessity to end the tariff battle.
President Trump announced that if the two countries can’t come to terms during the 90-day period he will raise tariffs to 25 percent.
