No decision has been made on whether to lift any of the $350 billion in tariffs imposed on Chinese imports by former President Donald Trump. President Biden has been discussing the removal of certain duties on the East-Asian country for weeks to help curb inflation and open a new exclusion process for firms to earn additional relief. But rolling back tariffs comes with a mixed bag, including questioning if China would reciprocate the move, and most importantly, how it would impact U.S. agriculture.
Many argue some farmers’ costs could be lowered if duties were minimized, and producers would likely gain better access to crop protection ingredients. Farm groups such as the American Soybean Association are optimistic that the impact would be positive to a certain extent on the ag industry.
Read more on the removal of tariffs on China here.
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