In China this morning, state-run media say Beijing will win any trade war with the U.S. China announced tariffs this week, targeting industries like pork, beef, and soybeans that are important in republican leaning states. Dean Reynolds is at a pig farm in Tipton, Indiana, one of many that could be hurt in a trade war.
Keith Schoettmer is a pig farmer and Trump supporter. The thought of a possible 25% Chinese tariff on American pork makes him nervous. China's tariffs would impact nearly 10% of all U.S. Pork exports. Of the top ten pork producing states in the U.S., eight of them voted for President Trump in 2016.
China's proposed 25% tariff on American soybeans could have an even bigger financial impact on U.S. Farmers. The American Soybean Association says China buys nearly a third of U.S. production annually.
That includes about a quarter of all the soybeans grown in Illinois. Trump supporter, Eldon Gould, is one of Illinois's over 43,000 soybean farmers. Yesterday Mr. Trump's top economic adviser, Larry Kudlow, suggested the tariffs on china are potentially just a negotiating ploy. The White House says they are opening the door for negotiations with Beijing.
There is no hard start date set for any of these tariffs, right now they remain just threats.