By Megan Henny, FOXBusiness July 24, 2018
Tariffs levied by President Trump against traditional American economic partners like China and the European Union may hurt farmers in the short-term, but according to the CEO of the Summit Agricultural Group, the tariffs could ultimately help the agricultural sector.
“I’m only in favor of the tariffs to fix the problem that’s been going on for decades,” Bruce Rastetter said during an interview with FOX Business’ Stuart Varney on Tuesday. “For decades, we’ve seen tariffs, we’ve seen barriers to selling product, and it needs to be fixed.”
The White House has already imposed a 25% tariff on $34 billion worth of Chinese products and, three weeks ago, threatened an additional round worth $16 billion. Responding in kind, Beijing slapped tariffs worth $34 billion on 545 American goods.