Wednesday, the group Tariffs Hurt the Heartland released a study showing American workers will lose nearly one million U.S. jobs if Chinese tariffs rise on March 1. President Trump says if a trade deal isn’t reached by then U.S. tariffs on China will go from 10-percent to 25-percent on $200 billion of goods. Richard Wilkins, past American Soybean Association President and member of Farmers for Free Trade says the retaliatory tariffs have injured agriculture, as well as the entire U.S economy.
He says the tariffs have also caused China’s livestock producers to switch to other protein sources in swine rations which also hurts America’s soybean growers.
Wilkins says what concerns him most are the long-term effects of the retaliatory tariffs China has put on the U.S.
The study warns that the combined effects of all the tariffs threatened by the administration will reduce U.S. employment by over 2.2 million jobs, and cause the average family of four to pay $2,400 more for goods and services. GDP would also drop by over one percent.
