Louisiana Agriculture Industry Concerned About Trade War With China
The escalating trade war with China is not good news for Louisiana’s Agriculture Industry. Ag Commissioner Mike Strain says the Bayou State has the largest trade surplus with China
“Our trade surplus with China, Louisiana’s trade surplus, is just over $7 billion due largely to agricultural exports to China.”
Soybeans are among the hundreds of U.S. products China has singled out for tariffs. Strain says 60% of the soybeans that the United States exports go to China. He says Louisiana has also done a lot of work to open up China to rice, beef and poultry exports.
“Our growth in exports from Louisiana to China grew 148%, our growth in good to the rest of the world grew 52%.”
President Trump initially proposed tariffs on 50-billion dollars in Chinese imports, because of an estimated 375-billion dollar trade deficit with China. And now the Trump administration is looking at imposing tariffs on another $200-billion worth of Chinese goods as the trade dispute worsens. Strain says despite the negative impact to Louisiana, he understands the President’s position.
“We are going to be watching this and I know this is all part of a greater strategy.”