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U.S. farmers, industry association urge U.S. to reach deal with China [Copy link] 中文

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Post time 2019-5-9 15:26:07 |Display all floors

American soybean farmers on Tuesday urged President Donald Trump not to push through with his tariff threat and quickly bring an end to the trade dispute with China.

Davie Stephens, president of the American Soybean Association (ASA), said in a statement that American soy farmers have found themselves in the crosshairs of Chinese countermeasures, and prolonging the battle will be even more damaging.

Trump on Sunday tweeted that he would hike tariffs on Chinese goods worth 200 billion U.S. dollars to 25 percent from 10 percent on Friday.

"Farmers are in a desperate situation. We need a positive resolution of this ongoing tariff dispute, not further escalation of tensions," the ASA statement said.

Screenshot from the American Soybean Association website. /VCG Photo

China is a key market for U.S. soybean exports, but last year sales plunged by about 75 percent year-on-year to just over three billion U.S. dollars.

Stephens said prices are already depressed, so "we need the China market reopened to U.S. soybean exports within weeks, not months or longer [...] before the 2019 harvest begins in September."

"The financial and emotional toll on U.S. soybean farmers cannot be ignored," he added.

The chemical industry is facing similar difficulties and also urged the White House to work fast.

"The risks of continuing to use tariffs as a negotiating tactic with China are simply too high – and any potential benefits still unclear," American Chemistry Council President Cal Dooley said in a statement on Monday.

"China supplies the United States with several chemicals which are not available anywhere else and which are critical inputs to U.S. manufacturing," he said.

Dooley noted that China is the third largest U.S. export market. He said that future growth for the chemical industry depends on a strong trading relationship with China and a trade policy that creates certainty and predictability for investors.

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Post time 2019-5-10 05:47:29 |Display all floors
CBS News
Rachel Layne, May 09 2019

Higher China tariffs could cost Americans hundreds a year

President Donald Trump's renewed threat to hike tariffs on $200 billion in Chinese imported goods as soon as Friday sent markets reeling and retailers warning consumers will be hit hard. But how much pain will consumers feel?
A good amount, apparently. Taken together, the tariffs -- levies paid by consumers and companies, not China -- could cost an average family of four $767 a year, one study from a group called the Trade Partnership estimated in February. The group also forecast the tariffs would cut U.S. employment by 934,000 people and subtract roughly 0.4 percentage points from U.S. GDP.
Human lives mean little when those in the WEST see a bigger gain through war

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Post time 2019-5-10 06:33:26 |Display all floors

Mark Niquette, May 08 2019
Yes, Trump tariffs are costing billions, and no, China isn't paying

President Donald Trump is justifying raising tariffs on Chinese imports on grounds they are helping the U.S. economy and are mostly paid by China. The opposite is true, economists say.
According to data from U.S. Customs and Border Protection, almost $15.3 billion in duties imposed by the Trump administration last year were assessed on imported goods from China as of April 10. Actual collections could lag and be lower with refunds and other factors.
While Trump has suggested on Twitter and in public comments that tariffs are somehow being charged to or paid by China, economists say that’s misleading. U.S. importers are responsible for the duties, and ultimately U.S. businesses and consumers pay through higher costs.
Human lives mean little when those in the WEST see a bigger gain through war

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Post time 2019-5-10 20:34:26 |Display all floors

US President Trump seems to prove that he knows how to deal with China on trade but with silly plans from White House Chief Economic Advisor, who perhaps is excellent in dealing with those three square meals in White House.

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Post time 2019-5-11 01:10:17 |Display all floors
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Post time 2019-5-11 10:28:26 |Display all floors
I think the Chinese authorities are scrambling to stave off the tariffs hike, just because that would sink the US economy, and leave a vast export market in rack and ruin.
Believe it or not, it's true.

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Post time 2019-5-11 11:55:34 |Display all floors
This post was edited by 1626548377 at 2019-5-12 05:49

Human lives mean little when those in the WEST see a bigger gain through war

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