DES MOINES, Iowa - Add soybeans to the list of Iowa export products facing new Chinese tariffs. Pork products and ethanol were on the first list.
While we were sleeping overnight in Iowa, the Chinese Ministry of Finance released a new list of 106 additional U.S. exports facing a 25-percent tariff, with soybeans on the list. CCTV reports the newest list of tariffs would only go into effect if a new list of tariffs on China products announced by President Trump Tuesday goes into effect.
Senator ChuarlesGrassley of Iowa responded to a question by WHO Radio News asking about the Chinese targeting Iowa soybeans, pork, and ethanol saying he has warned the President that tariff retaliation usually targets agriculture.
"I told President Trump to his face in a meeting with about 10 or 12 other senators, that you gotta be pretty cautious." Grassley said. "I'm not saying you can't get a better deal. Get a better deal. But, it's tricky."
Grassley just returned from a trade trip to China and took questions from the press Tuesday.
"You're going to find that agriculture is one of the first things that's going to be retaliated against." Grassley said.
The first list of new Chinese tariff increases included pork products and ethanol.
Besides soybeans, the new list of Chinese tariffs includes $50-billion in U.S. exports, including:
US chemicals, some aircraft and corn products, whiskey, tobacco products, some types of beef, lubricants, propane, plastic products.
US orange juice, sorghum products, cotton and some wheat, trucks, some SUVs , and electric vehicles.
On Tuesday the White House announced a list of 1,300 additional Chinese products that face a 25-percent tariff, including flat-screen TVs, medical devices, aircraft parts, and batteries.