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Ag economist: no immediate impact if Chinese tariffs are implemented 

An ag economics professor with Purdue University says farmers would not see an immediate impact if Chinese tariffs were implemented.

In fact, Wally Tyner says it would take several months before farmers were affected.

“China normally imports from the U.S. after the U.S. harvest and from Brazil after the Brazil harvest, so this is Brazil’s turn,” he says. “The impact, if there is one, would begin 4-5 months from now at the earliest.”

But, he tells Brownfield that tariffs would have a serious impact on soybean farmers if they were implemented and stayed in place for 3-5 years.

“There’s no doubt that it would have a serious impact on U.S. soybean farmers,” he says. “Our exports to China would fall by two thirds and our exports to the whole world would fall by about 37 percent.”

Tyner says China and the U.S. would both see economic losses if tariffs were implemented…

“The economic well being of the United States would fall about $3 billion dollars but also the economic well being of China, the Chinese economy as a whole, would also fall about $3 billion dollars,” he says. “The winner is Brazil.”

He says farmers shouldn’t panic because tariffs aren’t official yet and there is still time for both countries to come to an agreement.

Audio: Wally Tyner, Purdue University 

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