A lot is at stake when it comes to a trade war, especially for the agriculture industry. A Purdue University agricultural economics professor estimates United States pork producers will lose $12.50 per head this year, due to a 25% tariff imposed by China earlier this year. President Trump continues to seek ways to assist American farmers and ranchers who face potential economic hardships.
Trump says the federal government plans to assist struggling producers impacted by a trade war. U.S. Agriculture Secretary Sonny Perdue shys away from unveiling the Administration’s exact “game plan,” but indicates the U.S. Department of Agriculture is working diligently to develop an effective method.
“We’re meeting with sorghum producers right now, (and) watching pork very carefully. We don’t want to move too quick,” Perdue said. “We don’t want to move in a way that would set a precedent of expectation from all producers.”
Secretary Perdue makes note of existing programs, which could help alleviate some hardships. He adds it is hard to determine the exact impact of China’s actions.
“We’ve calculated numbers,” Perdue said. “I don’t think it’s appropriate to talk about the numbers our economists have calculated and predicted today.”
Perdue hopes the United States and China can reach a mutual agreement, and avoid a trade war.