Trade war only in “ceasefire”
An agricultural economist says a return to US-China trade tensions could be coming.
Ohio State University trade and policy expert Ian Sheldon said the trade war with China is not over. He says major disruptions to the brownfield market, such as Covid-19 and Russia’s invasion of Ukraine, have only forced a “ceasefire”.
“The 25-cent tariff on soybeans is still in place,” Sheldon said. “So the trade war is on hold. But the current administration shows no sign of changing its position on these tariffs.”
And Sheldon said the current tariffs could cause problems for the overall U.S. economy.
“Economists have been concerned about inflation here in the United States,” he said. “They said, get rid of the import tariffs against China and that would reduce the inflation rate by probably two percentage points.”
He said export market share could be lost to Brazil if a better trade relationship is not established.
Brownfield interviewed Sheldon at Farm Science Review outside Columbus, Ohio, on Tuesday.
https://brownfieldagnews.com/news/trade-war-only-in-cease-fire/ Trade war only in “ceasefire”