Chinese Soybean Tariffs Could Cost A Crucial Presidential State Big
Chinese soybean tariffs will hit Iowa, a crucial state in presidential elections, with millions of dollars in lost sales, according to The Des Moines Register.
Iowa soybean farmers could lose up to $624 million as a result of the tariffs, Chad Hart, an economist at Iowa State University told The Des Moines Register.
“Any tariff or tax put in place will have a significant impact, not only to the U.S. soybean market but to Iowa’s, because we’re such a large producer,” Hart told The Des Moines Register on Friday.
Iowa produced $5.2 billion in soybeans in 2017 and is the second biggest producer of the crop in the country. (RELATED: China Lashes Out At ‘Global Economic Disruptor’ Trump As Trade War Escalates)
The state is also particularly important in presidential elections. Iowa is the first state to hold a presidential primary or caucus, and the Iowa caucuses are seen as a potential indicator of how a candidate will perform nationally during election season.
This means candidates have to pay particular attention to what issues matter in Iowa. So tariffs, particularly the soybean tariffs, could be a major policy point in 2020.
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