Newspaper Article Archive of
The Kalona News
Kalona, Iowa
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Newspaper Article Archive of
The Kalona News

April 12, 2018 Chinese tariffs may end up hurting local farmers
Article Pages -- as published on the The Kalona News website.

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ARTICLE DESCRIPTION:

There is some local speculation that the agriculture tariffs announced by China last week may be an attempt to manipulate the market.

Derek Gordinier, owner of Wellman Produce, said that there has been talk that the Chinese announced the tariffs to drive down the price of soybeans.

“They announce the tariff, the price drops and they buy up a bunch of beans at a lower cost,” Gordinier said. “Maybe they’ll implement the tariff; maybe they won’t.”

He reiterated that the theory is only speculation, however.

When the Chinese announced the proposed tariff on corn, soybeans and other agriculture products last week, prices immediately dropped.

Gordinier said that corn went down about 10 cents a bushel, while soybeans dropped 23 cents per bushel.

“They’ve mostly recovered since then,” he said. “I don’t know why. Maybe it’s people questioning whether it’ll actually be implemented.”

China announced the tariffs on U.S. agriculture products last week after President Donald Trump announced increased tariffs on some Chinese high-tech products.

Following an event at the Iowa State University Southeast Research and Demonstration Farm in Crawfordsville last week, U.S. Sen. Joni Ernst expressed concern with the retaliatory effect the tariffs have on farmers.

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