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Committee hears warnings that proposed tariffs risk new trade retaliation and further strain farm finances
Summary
Senators and witnesses warned that the administration's tariff announcements risk retaliation from Canada, Mexico and China and could raise input costs (notably potash) and reduce export markets, with potentially lasting damage to farm incomes and market share.
Senator Amy Klobuchar and multiple witnesses told the committee that recent presidential tariff announcements and threatened retaliatory measures have created immediate uncertainty for farmers and agricultural supply chains.
Klobuchar described industry letters from the American Farm Bureau and the National Farmers Union expressing ‘‘major alarms’’ about broad tariffs and the risk that retaliatory measures by trading partners could hit agricultural exports such as dairy, fresh produce, ethanol and other commodities.
Farm leaders said the risk is both direct and indirect: direct in the form of lost export markets and retaliatory…
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