Tennessee Farmers, Consumers Expected to Feel Trump's Tariffs

By Seth Millstein

Since the beginning of April, President Trump has announced a number of new tariffs on countries around the globe, most notably China. While exactly which tariffs will remain in place long-term is changing day-to-day, the trade war with China appears to only be escalating. This is certain to have major impacts on the agriculture industry, and the consumers who rely on it for food.

Trump’s tariff plan, as originally announced, contained two different “layers.” The first was a 10 percent tariff on exports from all countries, while the second was an additional, “reciprocal” tariff on 60 specific countries. The reciprocal tariff rates differed from country to country, and were ostensibly going to be applied to countries with large trade deficits with the U.S.

Just hours after the tariffs took effect, however, Trump reversed course and announced a 90-day “pause” on the reciprocal tariffs. The first layer of tariffs remains in place, however.

Source - publicnewsservice.org