ASA President Testifies to Congress Regarding Trade Tariffs

President John Heisdorffer today provided testimony before the House Committee on Ways and Means on the potential impact of Chinese tariffs on USA soybeans.

The spat between the U.S. and China escalated when the U.S. Trade Representative earlier this month unveiled a list of $50 billion in Chinese products that could be hit with steep tariffs. "But it didn't work that way", Trump said in the Rose Garden of the White House.

China runs multibillion-dollar monthly surpluses with Europe and the U.S., which helps to offset deficits with Japan, South Korea and developing countries that supply industrial components and raw materials.

In his meeting with a group of governors and senators, Trump alleged that China has consistently treated the United States agriculture "unfairly".

Heisdorffer, who farms in Keota, Iowa, highlighted the importance of maintaining China as a robust market for USA soybean exports, and the lasting effects implemented tariffs and a trade war would have on soybean farmers.

These men include Wang Huning, the party's chief ideologue, who has written a book about his visits to the United States as a young scholar; Wang Qishan, Mr. Xi's most powerful lieutenant, who has cultivated relationships on Wall Street for decades; and Mr. Liu, the vice premier in charge of the economy, who has master's degrees from Seton Hall and Harvard.

Talks between the world's biggest economies broke down last week after the Trump administration demanded steps to curtail China's support for high-technology industries, a person familiar with the situation said.

By Wang Ke, Qi Zhiming and Wu Qiuyu -The US accusation that China has put restrictions on US investment in China pursuant to Section 301 Investigation is false claim, according to experts from home and overseas.

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Forecasters have been expecting Chinese economic growth to weaken since late previous year after regulators tightened controls to cool a boom in bank lending and real-estate sales they worry is driving a risky rise in debt. And he looked at me and he said, "Say it again".

But Vice Commerce Minister Qian Keming said at the forum on Tuesday (10 April) that China's economic reforms were driven by domestic factors and not due to external pressures. And we did other things too.

Chinese President Xi Jinping attended a massive military drill by the country's naval forces in the South China Sea, and stressed that the need for a strong navy "has never been more pressing".

Trump has portrayed the issue in a more favourable light. "He is going to get rid of a lot of the taxes or tariffs that they charge", he said.

"The President signalled back".

"There's a pot of gold there".

The Chinese state newspaper Global Times reports that Xi was on hand to inspire the People's Liberation Army (PLA) with an address on why naval power is more important than ever, as well as to inspect the country's new naval assets. "We ask the public to rest assured", it said in a statement.

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