Tariffs Raise Chemical Costs for Farmers, Say CropLife America
Farmers will pay more for pesticides if tariffs are raised on chemical imports from China.
Leadership at CropLife America joined the ranks of U.S. businesses concerned about possible new tariffs on imported products from China. For more than a week, companies have been testifying before the U.S. Trade Representative's panel on the 25% proposed tariffs against as much as $325 billion in imported Chinese products.
Chris Novak, CEO of CropLife America, testified Monday before the USTR panel. Novak warned the tariffs could increase costs for pesticides and other products by several hundred million dollars per year. Earlier tariffs imposed on such products already raised prices, Novak said.
"While we appreciate the Administration’s willingness to undertake tough measures to discourage trade practices that disadvantage our industry, we believe these proposed tariffs will have immediate, negative effects on farmers, consumers, and our members. After the administration imposed tariffs last September on certain agrochemicals, the producer price index for these products skyrocketed,” Novak told the trade panel.
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Leadership at CropLife America joined the ranks of U.S. businesses concerned about possible new tariffs on imported products from China. For more than a week, companies have been testifying before the U.S. Trade Representative's panel on the 25% proposed tariffs against as much as $325 billion in imported Chinese products.
Chris Novak, CEO of CropLife America, testified Monday before the USTR panel. Novak warned the tariffs could increase costs for pesticides and other products by several hundred million dollars per year. Earlier tariffs imposed on such products already raised prices, Novak said.
"While we appreciate the Administration’s willingness to undertake tough measures to discourage trade practices that disadvantage our industry, we believe these proposed tariffs will have immediate, negative effects on farmers, consumers, and our members. After the administration imposed tariffs last September on certain agrochemicals, the producer price index for these products skyrocketed,” Novak told the trade panel.
Click Here to read more.