China announced on Friday that it’s ready and willing to put tariffs on another $60 billion worth of American imports. If it follows through on the threat, the total tariff bill on American goods will be $130 billion. Agriculture continues to be on the hit list.
Politico says an informal translation of the new list includes hops, maple syrup, whey protein, frozen corn, margarine and shortening, ginseng, and “packaged foods for young infants and children.” A list like this will affect producers from Vermont all the way to California and everywhere in between.
The list also includes agricultural machinery exports like milking machines and parts. A new target on the list includes hides and leather products. A number of U.S. hides, skins, and leather products would also face tariffs of either five or 25 percent from China.
The President of the U.S. Hide, Skin, and Leather Association says the Chinese market is not just important for the industry, “it’s essential for our survival as competitors continue to finalize formal trade agreements that could place us at a competitive disadvantage.”
Source: National Association of Farm Broadcasting News Service.