President Trump on Thursday signed a proclamation putting steel and aluminum tariffs in effect.
Here’s the reaction we’ve received so far:
“These tariffs are a disastrous course of action from the White House,” said John Heisdorffer, American Soybean Association president and Iowa farmer. “They may lead to retaliation by one or more of our valuable trading partners, which in turn will kneecap demand for soybeans in a time when the farm economy is struggling. We have heard directly from the Chinese that U.S. soybeans are prime targets for retaliation. The idea that we’re the only game in town, and these partners have no choice but to purchase from the U.S. is flatly wrong. Our competition in Brazil and Argentina is eager to capitalize on whatever openings these tariffs create for them in markets like China and elsewhere.”
"We have tremendous concern about the global ramifications of any new tariffs on ag exports," said U.S. Grains Council President and Chief Executive Officer Tom Sleight. "Agriculture markets are global, and our members - both farmers and exporters - will feel the impacts immediately when new tariffs from our trading partners impact demand. Our products can compete on price and quality anywhere in the world, but the domino effects of new tariffs could make that much, much harder."
Source: American Soybean Association, U.S. Grains Council