Trump's tariff's costing Mahoning Valley farmers big
Retaliatory tariffs from China could lead to a 59 percent decrease in Ohio farmers’ net income within six years, a group representing Ohio’s soybean industry says.
When the U.S. implemented tariffs today on $34 billion worth of Chinese goods, China swiftly hit back with its own tariffs on goods imported from the U.S., including a 25 percent tariff on soybeans.
Ohio’s soybean crop is valued at about $2.5 billion, according to the Ohio Soybean Association, which expressed “disappointment and increasing concern” about the tariffs today. Soybeans are the largest crop in Mahoning and Trumbull counties and second largest in Columbiana County, according to the U.S. Census on Agriculture.
“We’re now looking at a 25 percent tariff on every single soybean that we try to sell to China,” said Kirk Merritt, OSA executive director.
Read more about the situation in Saturday's Vindicator or on Vindy.com.