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Congressman King says US in the beginnings of ‘all out trade war’

Ag/Outdoor

April 4th, 2018 by Ric Hanson

Republican Congressman Steve King says he is “uneasy” about the Trump Administration’s moves on trade. “Where we are today is we’re in the beginnings of an all-out trade war,” King says, “and I hope and pray that it is not.” China slapped import duties on dozens of U.S. products Monday, including a 25 percent tariff on pork, as a response to President Trump’s tariffs on Chinese steel and aluminum. King says he had a “direct conversation” over the phone with Trump “several months ago” about the importance of trade, including the “complex negotiations” over the North American Free Trade Agreement. “I’m uneasy about where we have gone,” King said. “I would not have initiated any of this, actually. I’ve always been working towards the most stable trade situation we can have that’s going to allow us to increase our exports of agriculture and our exports of manufacturing.”

King says he hopes China concludes it needs the American market and the Trump Administration decides American consumers want cheap Chinese goods, but if neither side “backs off,” King says agriculture will be hurt “a lot.””This is an escalating thing that has the looks of how a trade war begins,” King says. And King predicts a trade war will lead to fewer family farms. “We’ve lost about half of our market value in our commodities from the peak about 10 years ago and that’s caused our producers to spend some of their equity down, especially our young guys that are trying to build that equity so they can sustain themselves through the hard times,” King said. “This is hurting them the most.”

King also says it’s ironic that since a Chinese company bought U.S.-based Smithfield Foods, pork processed in the U.S. by Smithfield will be charged the tariff.

(Radio Iowa)