Dan Sumner: Impacts of Steel and Aluminum Tariffs on Agriculture
March 14, 2018
Agricultural and Resource Economics Distinguished Professor Daniel Sumner, director of the UC Agricultural Issues Center, had a column published in The Hill titled "The self-inflicted economic damage to American agriculture."
In the piece, Dr. Sumner tells the history and current condition of agricultural trade. "But, what do steel tariffs have to do with agriculture," he writes. "First, farms use steel too. Whether in tractors, trucks and other equipment or in building materials, farms are customers and customers pay more when taxes rise. ... Second, farm commodities have been top line pics for retaliation lists when the U.S. has tried to pursue actions that violate international rules. ... Third, and perhaps the most serious consequence for the farm economy, is that other countries, which have their own trade troubles and grudges, may follow the U.S. lead with ill-disguised unilateral efforts to block imports such as farm trade from the United States."
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