CNN Money: Possibility of Imposed Tariffs Worrisome to Agriculture

CNN Money quoted American Farm Bureau Federation’s Dr. Bob Young in a recent article on the Trump administration’s trade policies. There are many potential implications of the president imposing major tariffs, including the possibility that America’s current trading partners will retaliate, noted CNN.  Young, chief economist at AFBF, explained that this is alarming to farmers and ranchers. “It is a big deal, and we’re very worried about this,” he said. “The potential is certainly there for other countries to retaliate.”

Young also discussed how imposing tariffs could impact agricultural jobs, for example, the Chinese government could easily slap tariffs on American soybeans, one of the biggest U.S. exports to China.