The following is a statement from Illinois Farm Bureau President Richard Guebert, Jr., regarding tariffs imposed by China on Illinois agricultural commodities including pork and soybeans.
Illinois Farm Bureau opposes policy that restricts agriculture exports.
This trade war is counter-productive and will cost farmers and rural economies in the long run. At Wednesday’s opening bell, Illinois soybean farmers lost $275 million in crop value. Illinois pork producers stand to lose $105 million in market value from tariffs on pork products announced Monday.
We urge President Trump to work on expanding trade rather than imposing tariffs that result in retaliation against Illinois farm families. We need action now to reverse this trade dynamic. Past trade disputes have shown us that markets for U.S. goods are quick to disappear and slow to return.