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President Trump took up the opportunity on National Agriculture Day to congratulate American farmer by saying that they are the backbone of the country, “Our Nation was founded by farmers. Our independence was won by farmers. And our continent was tamed by farmers. Our farmers always lead the way -- we are PROUD of them, and we are DELIVERING for them!” as his protectionist agenda casts a shadow over American farmers.
As President Trump imposed 25 percent tariff on all Steel imports to the country and 10 percent tariff on Aluminum imports and as reports suggest that his administration is set to announce additional tariffs/restrictions on Chinese goods worth $60 billion by the end of the week targeting telecommunications and technology sectors, China’s nationalist tabloid Global Times, which is often described as the mouthpiece of the Chinese government warned that China is likely to impose tariffs on U.S. Soybean imports.
Mr. Hu, who often writes the paper’s editorials, said on Twitter, “I’m sure if Trump imposes high tariffs on imported products from China, the backlash will first come to American soybeans worth over $10 billion sold to China every year. This is no casual comment. Please read tomorrow’s Global Times for further information”.
