THTH: Trade War Has Cost U.S. Consumers $42B

A trade organization says the trade war with China has cost the U.S. $42 billion since February of 2018.  On Monday Tariffs Hurt the Heartland released data showing that in October alone, Americans paid a total of $7.2 billion in tariffs, more than any other amount in U.S. history, with $4 billion of that total stemming from the trade war.

 

Americans for Free Trade spokesperson Jonathan Gold says, “It’s time the administration finalizes a deal with China to end the trade war and remove all tariffs.”

 

Talks of a phase one agreement continue, which would include agriculture provisions, but new tariffs are planned on China starting December 15th.  Last week, President Trump indicated a final overall agreement could wait until after the 2020 U.S. elections.

 

Brian Kuehl, co-executive director of Farmers for Free Trade, says the 2020 campaign will turn to farm states, adding, “The president needs to show he can close not just a phase one deal, but a comprehensive deal,” for farmers and rural America.

 

 

If you have a story idea for the Washington Ag Network, call (509) 547-1618, or e-mail [email protected]

Leave a Reply

Your email address will not be published. Required fields are marked *