China today 128 products imported from the U.S. will now face $3 million in tariffs in reaction to those imposed by President Trump on steel and aluminum manufactured there. Congressman Don Bacon says the impact of that new tariff could be felt in Nebraska.
Congressman Bacon says, “There is going to be some kind of impact. Any kind of retaliation because we are such a big state for agriculture. Every other row of soybeans is exported. Every third row of corn. We are the largest exporter of beef, the sixth largest exporter of pork. This will have some kind of impact. I appreciate the president targeted those tariffs as he went along. Initially it was a very broad tariff. I think that is dangerous because when you are impacting countries who aren’t treating us unfairly that is not going to be a good reciprocation against us.”
Congressman Bacon says Trump seems to take a harsh opening position regarding trade but then that becomes more targeted. He says we saw progress this last week with the Korea trade agreement where he renegotiated and got a better deal for America. He says we are also hearing positive developments out of NAFTA where we are very close to getting a deal.
Congressman Bacon says we can’t have free trade when a country is being unfair and that is exactly what was happing with China. He says China’s reaction may have short term consequences but the outcome will be a much more free trade agreement.