Tariffs on Who, What, Where, and When?

It’s a topic that’s hard to talk about – not only because of the strong opinions is opens up, but because the second something leave your mouth, it seems to have changed.

I’m talking agricultural tariffs and the current Administration. In the know is a hard place to claim to be which is why I’m grateful to have folks to lean on.

American Farm Bureau Federation Economist Betty Resnick give the details as of March 18…

“ We now have an additional 20 percent tariff on all Chinese products. The 25 percent tariff put on Canada and Mexico on March 4 has been paused until April 2 for USMCA-compliant products. Canada's retaliatory tariffs that started on March 4 are still in effect and have been expanded in response to our new tariffs on steel and aluminum from all countries.”

Question: Will it impact agriculture? Answer: You already know that one.

“China's new retaliatory tariffs impact about $21 billion in agriculture products, with an additional 15 percent tariff on chicken, cotton, corn, and wheat and ten percent on a slew of other ag items, including sorghum, soybeans, pork, beef, fruits and vegetables, and dairy products. Canada put a 25 percent tariff on approximately $5.8 billion of agriculture goods.”

Canada’s retaliatory tariffs included wine, fresh fruits, poultry, and dairy. But, it’s important to remember that the situation is still in flux. Betty Resnick, American Farm Bureau.