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Soybean Farmers Nervous as U.S. Commerce Urges Metal Tariffs

(Andy Allan – AgriCensus)

Soybean farmers have urged the US Administration to tread cautiously when considering whether to impose tariffs on steel and aluminium imports as they fear retaliatory action that could further “hobble” their industry.

The US Department of Commerce on Friday recommended that President Trump slap tariffs on imports of steel and aluminium to protect national security.

The recommendations, which were widely expected, outline three options, including: a tax on all imports; a tariff on individual countries that includes China; or a quota that caps imports from each country at 63% of their 2017 imports of steel and 87% for aluminium. Click here to read more.