Post-G7 Summit: Tariff Removal Would Be “Positive” For Agriculture

June 12, 2018 10:35 AM

The 44th G7 summit wrapped up on Saturday, and President Trump’s strong words and tough talk are still causing a discussion in farm country.

He delivered a stern warning on trade and foreign countries at the Summit, urging trading partners not to retaliate against U.S. tariffs on steel and aluminum imports. 

President Trump tweeted the following on Sunday after meeting with leaders from Canada, France, Germany, Italy, Japan, and the United Kingdom: 

Reporters were told by Trump he was pushing for “fair and reciprocal” trade practices urging foreign counterparts to eliminate all tariffs, trade barriers, and subsidies in their trading practices.

If tariffs and barriers are eliminated, agricultural economist Dermot Hays of Iowa State University told AgDay there are merits for agriculture.

“Canada for example prohibits U.S. dairy and Europe makes it almost impossible to export about anything to Europe except for corn and soybeans,” he said. “The removal of duties worldwide will have an enormously positive impact on U.S. ag exports, but I cannot give you a precise number.”

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