China plans to impose new tariffs on $60 billion of U.S. products with an additional ten percent tariff will be placed on wheat products. According to U.S. Wheat Associates Vice President of Communications Steve Mercer, the latest round of tariffs “shouldn’t add further pain” to the current trade scenario. “The damage was done during the first round of tariffs back in March,” says Mercer. As a direct result of the Chinese government’s retaliation on U.S. milling wheat, China has not imported any U.S. wheat since March.” U.S. Wheat Associates is estimating potential lost sales valued at about $240 million. Hear more of the conversation in this interview.
