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Press Release

Tariff Stories: A Weekly Look at How Tariffs Hurt Americans

February 26, 2019

11,000 Texas Farmers Ask for Relief from Trump’s Tariffs (Waco Tribune-Herald)

“At least 11,000 Texas farmers believe they have suffered because of tariffs and trade disputes erupting amid President Donald Trump’s get-tough stance with China, which buys about half the cotton grown statewide, according to the Waco-based Texas Farm Bureau and the U.S. Department of Agriculture.” … “Texas Farm Bureau spokesman Gene Hall said farmers and ranchers have mixed feelings about the Trump administration, tariffs and the best approach to dealing with China.” … “‘A trade war could not have come at a worst possible time. It is being felt most acutely in the Midwest, but we’re having problems here, too. These market assistance payments are helpful, but no one considers them a long-term solution.”

Farmers Watch Soybeans Spoil While Waiting for Trade War to End (United Press International) 

“Agricultural experts worry that millions of bushels of stored soybeans awaiting the end of the U.S. trade war with China could spoil before a settlement is reached.” … “‘More than 70 percent of our soybeans are exported to China,” said Nancy Johnson, executive director of the North Dakota Soybean Growers Association. “We have a fabulous system for getting soybeans on trains to the Pacific Northwest. With [the China] market closed, it’s been hard.’”

Consumers Are Paying for Trade War as Companies Raise Prices to Cover Increased Costs (NPR)

“[Bison CEO Nick] Cusick says there’s a problem. When the U.S. raised taxes on imported steel, the price for American steel skyrocketed by as much as 50 percent. Bison had to raise its prices this year to cover costs. CUSICK: But the end users – the schools, the consumers on our residential basketball side of our business – they’re the ones that are getting hit. So it’s kind of counterproductive.”

Tariffs Are Raising Prices and Sending Jobs Overseas (NPR)

“Irv Blumkin is CEO of the home furnishings chain Nebraska Furniture Mart. He says a 25 percent tariff would lead to higher prices at his store for everything from carpet to patio furniture. IRV BLUMKIN: At 10 percent, you can come to a very minimal change. At 25 percent, it becomes a different deal.” … “Blumkin is concerned a higher tariff will scare away his shoppers.” … “Blumkin says some manufacturers are moving their production to countries like Vietnam, Malaysia or Mexico.”

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