GOP Sen. Chuck Grassley nervous about ‘detrimental’ effects of trade war

GOP Sen. Chuck Grassley nervous about ‘detrimental’ effects of trade war

(CNN) – Sen. Chuck Grassley said he is “very, very nervous” about the “detrimental” effects of President Donald Trump’s trade war with China on Iowa’s farming community.

As the Trump administration prepares a third round of tariffs on Chinese goods, the Iowa Republican said on CNN’s “New Day” that the effects of China’s retaliatory tariffs on soybeans are already being felt in his state.

“He’s negotiating, I think, as a businessperson,” Grassley said Wednesday morning. “If he goes over the brink, it’s catastrophic. Right now, on soybeans and corn in my state, it is catastrophic with the dramatic drops in prices that we’ve had.”

Last Friday, the Trump administration imposed 25% tariffs that affect more than 800 Chinese products, worth $34 billion. In retaliation, Beijing responded with its own tariffs on US goods that targeted the agricultural sector, including soybeans, and accused the US of starting “the biggest trade war in economic history.”

Trump tweeted from Brussels on Wednesday morning, responding to the growing economic anxiety within the agricultural sector.

“Soy beans fell 50% from 2012 to my election. Farmers have done poorly for 15 years. Other countries’ trade barriers and tariffs have been destroying their businesses. I will open things up, better than ever before, but it can’t go too quickly. I am fighting for a level playing field for our farmers, and will win!” he wrote

Grassley claims that three times in the last three months, he’s joined “several” senators from agricultural states to express their view on trade to the President. He’s also joined other senators in complaining to members of the Cabinet during the last year.

“It’s the uncertainty of it that bothers people,” Grassley added.

The third wave of tariffs announced Tuesday would go into effect sometime after August 30.

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