Wednesday, 19 September 2018
Login |  Register 
 
Find Products or Services in your local community
 
MSC News National Headlines U.S Health Tech Talk World Business Sports Top Headlines
KSA Concerned About the Possibility of Retaliatory Tariffs
04/09/2018
 
China is U.S. soy's top customer, importing nearly $14 billion of U.S. soybeans in 2017. That was 60 percent of all U.S. soybean exports and about 30 percent of total U.S. soybean production.

April 3, the Office of the U.S. Trade Representative (USTR) published a list of proposed tariffs on about 1,300 Chinese products. It will undergo a public notice and comment process, including a May 15 hearing. Once that is complete, USTR will issue a final determination on subjected imports.

In retaliation, China announced intended tariffs on 106 U.S. goods that amount to about $50 billion in imports. China specifically mentioned a 25 percent tariff on U.S. soybeans, saying it would go into effect based on the administration's final course of action.

Kansas Soybean Association (KSA) First Vice President Dwight Meyer, Hiawatha, who chairs the organization's policy committee, issued the following statement in response to China's announcement.

"In 2017, according to the U.S. Census Bureau, soybeans were Kansas' fourth-ranked export -- behind civilian aircraft, wheat and fresh beef. The top five export destinations for all Kansas products -- not just soybeans -- were Canada, Mexico, Japan, China and Germany. The U.S. runs trade deficits with all of them.

"U.S. soybean farmers have leveraged millions of checkoff dollars with Foreign Market Development and Market Access Program funds from the federal government to establish markets for U.S. soybeans in China and around the globe. Last year, the U.S. soybean industry celebrated 35 years of trade operations in China, keeping them going over nearly 20 years without exports to that country.

"KSA has expressed its views to our congressional delegation and is grateful that they -- along with our partners within USDA -- understand how international trade supports the economy in rural America. Our members look forward to continuing our strong working relationships with them as we develop foreign markets and increase access. We encourage the White House and USTR to work with Congress, USDA and U.S. agriculture to improve our global competitiveness as a way to address our trade deficits with China and other nations.

"Kansas soybean farmers and their industry organizations are confident U.S. and Chinese negotiators can work out the underlying trade issues, and we look forward to getting back to the business of selling U.S. soybeans to China and other export markets."
 
You will need to be logged in to leave a comment.
Please Login

characters left

The posting of advertisements, profanity, or personal attacks is prohibited.
Click here to review our Terms of Use.



MOST VIEWED STORIES
Creek crash driver dies, passenger remains critical
Young child tests positive for meth use
Suspicious vehicle sparks college alert
Creek crash claims second life
Injured child continuing to recover
One dead, one jailed, following standoff
Woman killed in Marshall Co motorcycle crash
Domestic violence service ends with vote
Hiawatha teen sentenced on child sex charges
KS man jailed in Richardson Co on multiple charges
Click Here For All Stories

LATEST STORIES
Jefferson Co boil advisory lifted
Creek crash claims second life
Plea entered in Nemaha Co child sex case
One dead, one jailed, following standoff
Large-scale study aims to improve burning management of Flint Hills
Suspicious vehicle sparks college alert
No opposition to skate park proposal
Doniphan Co murder suspect enters plea
New phone scam reported locally
Atchison mascot forum postponed for tragedy
Click Here For All Stories

©2018 MSC News
Hiawatha, Ks 66434
EEO Public Report


Powered by Radio Media Group