Podcast: Ag in the crossfire as trade dispute escalates; and the death of the WTO?
US President Donald Trump’s rhetoric on “unfair trade” has turned into action, with the imposition of tariffs of up to 25% on steel imports and 10% on aluminium. Are we on the verge of a trade war that will adversely impact the global farming and food sectors?
While some countries have secured exemptions, the duties have sparked an angry response from China, which has slapped its own retaliatory measures on a number of US agri-food items such as pork, nuts, fruit and wine – with the threat of more to come.
What is the US agriculture industry’s response and how will the administration respond, considering Trump’s rural vote base?
Meanwhile, there are commentators who are claiming that such actions by the US mean the World Trade Organisation is now irrelevant and on its deathbed. Is this true? Or have we been here before?
In this podcast, IEG Policy publishing director Adam Sharpe talks to trade policy expert Peter Ungphakorn and senior US agriculture policy analyst Roger Bernard.
Please note, this podcast was recorded prior to the latest round of US tariffs being released and the subsequent announcement of retaliatory measures by China, including a 25% tariff on soybeans.
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