The U.S. ag community is watching to see if it will be caught in the crosshairs of Chinese retaliation following a tariff announcement.
On May 14, President Biden announced increased tariffs on $18 billion of Chinese goods.
The tariff rate on some steel and aluminum, for example, will increase from 0-7.5 percent to 25 percent. And the tariffs on electric vehicles will rise from 25 percent to 100 percent.
And China promised to act in response.
“Retaliation against agriculture would be unfortunate, given the impact it may have on our sector, as well as global food security,” as USDA spokesperson told Farms.com in an emailed statement.<