Businesses Join Agriculture in Fretting Over Trump Anti-Trade Talks

Dan Industry News Release, Trade

trade groups
U.S. importers and exporters are worried about President-Elect Donald Trump’s anti-trade views that could significantly dent their revenue if Trump follows through. For his part, Trump has scaled back on his campaign threats, but the American Association of Exporters says businesses are still worried as they assess where they are vulnerable. USA Today says if Trump would follow through with imposing a 45 percent tariff on Mexico and China, impacts include replacing Boeing aircraft orders by Airbus, U.S. auto and iPhone sales will suffer a setback, and for agriculture, U.S. soybean and corn imports will be halted. Boeing is the largest U.S. exporter with about 70 percent of its revenue derived from abroad, and China is the company’s biggest customer. Any trade war that would develop during the Trump administration would significantly hurt U.S. agriculture exports, and the National Pork Producers Council says the pork industry would be forced to cut production, raising prices for U.S. consumers.

From the National Association of Farm Broadcasting news service.