FORT WAYNE, Ind. (WOWO): President Trump recently raised tariffs from 10% to 25% on $200-billion worth of Chinese goods, raising questions on how it will impact US consumers and farmers.
WOWO Farm Director Rob Winters says local farmers understand what’s behind the escalating trade war, but that doesn’t make it any easier.
“70% of farmers support the plan because they know they (China) aren’t paying their fair share. Most farmers believe it’s the right thing to do. But at the same time, it’s very painful.”
Trump has pledged to help farmers impacted by the tariffs. Last year, the Trump administration set aside $12-billion in bailouts for farmers.
Trump’s economic adviser, Larry Kudlow, also tells Fox News that American consumers will end up paying for the tariff hike, a statement that Trump disputes.
China has said it plans on increasing tariffs on $60-billion of American goods.