Home Budget, Economy Senators Warner, Kaine Statement on Trump’s Trade War

Senators Warner, Kaine Statement on Trump’s Trade War

"President Trump needs to resolve this irresponsible dispute quickly before he does irreparable damage to Virginia’s agricultural industry and economy.”

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From Senators Tim Kaine and Mark Warner:

WARNER & KAINE STATEMENT ON PRESIDENT TRUMP’S TRADE WAR

Today, Chinese tariffs on Virginia goods went into effect. Includes soybeans, beef, cotton, and dairy.

WASHINGTON, D.C. – Today, U.S. Senators Mark Warner and Tim Kaine released the following statement on President Trump’s trade war, which has resulted in China imposing tariffs today on Virginia goods:

“China engages in unfair trade actions that must be addressed, but today, President Trump’s mishandling of the trade situation caused China to officially retaliate against the U.S. by placing tariffs on $34 billion worth of American goods. And who will be hit the hardest? Virginia farmers, manufacturers, and consumers. The trade war that President Trump created moves us further away from a solution, punishes American workers, and raises prices on the products families rely on. President Trump needs to resolve this irresponsible dispute quickly before he does irreparable damage to Virginia’s agricultural industry and economy.”

Despite clear warnings from China that they would retaliate with high tariffs on soybeans, Virginia’s number one agricultural export, President Trump placed tariffs on China at 12:01 am on Friday, July 6. China quickly responded today with tariffs on $34 billion of American goods, including soybeans, beef, cotton, and dairy. Soybean production in Virginia accounts for roughly $187 million in economic output, which helps supports thousands of jobs in the Commonwealth. The Virginia Department of Agriculture and Consumer Services (VDACS) has confirmed that China is the Commonwealth’s biggest export market for agricultural goods and suggested President Trump’s tariffs could hurt Virginia businesses and employees.  China is also imposing tariffs on more than 500 other American goods exported to the country. President Trump has tweeted that “trade wars are good.”

Warner and Kaine spoke out for months asking President Trump to avoid the tariffs that China imposed today.