U.S. Trade Representative Jamieson Greer says retaliatory tariffs on China for its theft of intellectual property are likely here to stay.
During a visit to the Iowa State Fair, Greer noted the tariffs President Trump imposed on China in his first term were kept in place throughout President Biden’s four years in office and are in force today. “This is how it’s going to be regardless of party because everyone realizes a lot of those supply chains we need to have here,” Greer said, “and tariffs are a way to protect those supply chains.”
During trade negotiations this spring, China’s president committed to buy 25 million metric tons of U-S soybeans each year through the end of Trump’s term. Greer said China has so far purchased between four-and-five million metric tons, “even at a time when Brazillian beans were a little cheaper, so to me that’s a sigh of goodwill on their part and intention to fulfill their obligations. Now, we have a lot of challenges with the Chinese. I don’t have rose-colored glasses, but they want stability, we want stability and they know that by buying soybeans and other American products, they can have that stability they’re seeking.”
China’s latest pledge to buy U.S. soybeans is closer to their purchasing pattern from a decade ago. During Trump’s first term, Chinese imports of U.S. soybeans decreased from nearly 33 million tons in 2017 to 16.6 million tons in 2018.
Greer is among several Trump Adminitration officials who are visiting the Iowa State Fair this year.
