By Jackie Ourada
Nebraska leaders say they’re feeling hopeful after an agreement was reached between the U.S. and China to lower tariffs over the next 90 days. But both Nebraska U.S. Sen. Pete Ricketts and Nebraska Farm Bureau President Mark McHargue said they want to see the ongoing tariff strategy lend itself to better deals on behalf of U.S. producers.
Over the weekend, President Donald Trump announced U.S. levies on Chinese goods would be dropped from at least 145% to a base levy of 30%. China’s retaliatory tariffs on U.S. goods of 125% were dropped to 10%.
“This will give the opportunity for the negotiators to work on a longer-term agreement,” Ricketts said in a press call Wednesday afternoon. “I think this is a first step in getting a trade relationship with China right, but it’s going to require a lot more work, and, of course, we’ve got other countries we need to get that trade relationship right as well.”
Ricketts pointed to supply chain “downfalls” during the COVID-19 pandemic that he said showed the U.S. was over-reliant on China. The senator acknowledged trade with China remains critical for Nebraska, which remains a close agricultural trading partner.
McHargue echoed Ricketts’ comments earlier this week when he said the tariff relief is giving a big boost to soybean producers, but now both countries need to “leverage this into something.”
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