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Farmers in the USA have expressed their concerns about a possible trade war with China, reports "24KZ".
US presidential candidate Donald Trump promised during his election campaign to introduce a high rate of 60% on goods from China, according to Reuters.
Agricultural entrepreneurs believe that this could seriously impact the industry and lead to price increases for products. China is one of the largest importers of soybeans and corn from the USA, and the new customs duty will only worsen the already difficult situation for farmers.
As a government agency reminds, in 2018 Trump imposed import duties on a wide range of goods from China. In response, Beijing raised taxes on American agricultural products and limited soybean imports. However, in recent years, agricultural export volumes between the two countries have not recovered.
Data from the US Department of Agriculture indicate significant losses of $27 billion in just one year due to these measures.
One of the farmers, Dave Walton, shared his opinion on this matter:
— China has been an important trading partner for us. We need this market to sell our products worldwide. A trade war will deal a devastating blow to US agriculture. We still haven't recovered from the previous duties. I believe that Washington should better understand what the consequences were last time, and now they should know what consequences we can expect from these economic measures.
