President Donald Trump has decided to delay tariffs on Chinese goods, but farmers in Louisiana have already felt the effects of international tariffs placed on the U.S. as retaliation.
One farmer in Evangeline Parish believes the tariffs can lead to better a trade deal.
“It’s a big poker game they’re playing and we’re involved but at the end of the day, we want generations to be sustainable in agriculture.” said Richard Fontenot who has been a soybean farmer in Evangeline Parish since 1991.
“We have the cheapest, the safest abundant supply in the world and we are competitive with those products. Trade barriers are an obstacle for our marketing.” he added.
According WorldsTopExports.com, soy bean exports have fallen by 19 point one percent.
UL Economics Professor Cary Heath, points out this has a negative effect on the country’s GDP.
“The economics are pretty clear. Free trade is better than restricted trade so tariffs, quotas, various types of taxes and other barriers are not good for any country.” he explained.
However, Fontenot still hold outs hope.
“We’re taking medicine today for a cure tomorrow. These have collateral effects, long term effects. We have to get it right. I’d rather get it right today and pay my dues so that we have it for tomorrow.” said Fontenot.
The white house says the delay in new Chinese tariffs will last until December 15th for imports such as cellphones, laptops, video game consoles, some toys, computer monitors, shoes and clothing.