American farmers have not only endured retaliatory tariffs from China and other nations, they've watched as most of their top foreign competitors used free trade agreements to make inroads into Japan, a historically protectionist market with nearly 127 million consumers. Now they're wondering
WASHINGTON — American farmers have not only endured retaliatory tariffs from China and other nations, they've watched as most of their top foreign competitors used free trade agreements to make inroads into Japan, a historically protectionist market with nearly 127 million consumers.
The result: Top foreign competitors to American farmers get a pricing advantage after taking into account the 38.5% import tax that is applied to American beef, the 20% tariff applied to American ground pork and the 40% duty applied to some cheeses. Giordano is hopeful that dynamic will change soon. The president, in need of some wins on the trade front, has said the U.S. and Japan have agreed in principle on a new trade pact that the two parties hope to make official later this month.
Story continuesTrade talks involving the Trump administration tend to be subject to fits and starts. Farm groups are hoping for no setbacks.
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