Trade

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China is starting its retaliation against U.S. steel and aluminum tariffs today, announcing it is imposing its own tariffs on a list of 128 U.S. products that are mostly farm commodities.

President Donald Trump today signed off on a plan to punish China for years of stealing intellectual property by imposing about $60 billion worth of tariffs on Chinese goods. The move came despite a growing chorus of warnings from Capitol Hill and farm groups that China will retaliate by taxing or blocking U.S. agricultural goods.

The U.S. ag sector, already reeling from depressed prices, understands the White House’s desire to punish trade abuses by countries like China, but there is a growing fear that President Donald Trump’s aggressive tactics and rhetoric are threatening overseas markets, according to farm and trade officials speaking today at an Agri-Pulse forum.

Hundreds of ag stakeholders braved a Nor’easter Wednesday predicted to drop almost a half foot of snow in Washington to attend a summit on ag food and policy hosted by Agri-Pulse. Kicking off the event was Ray Starling, special assistant to President Trump for agriculture, who assured the audience that the White House position on ag trade was, "We are open for business."