Earlier this summer, 889 was featured in the media as an expert for US/China trade. NBC came to our Columbus headquarters and interviewed 889 CEO, Judy Huang on the subject. As the trade war between the United States and China has continued businesses, consumers, and farmers alike have been feeling the impact. With customers all over North America we have seen the impact from top to bottom. The tariffs create a lot of uncertainty.
“It’s just very difficult to plan because you don’t know what’s coming up,” Huang said. “You don’t know when the next tariff is going to hit and you don’t know what that percentage is going to be.” This statement can be illustrated in the below timeline (Peterson Institute for International Economics) of the trade war to date.
“I think, ultimately, everybody is going to have price increases,” Huang said. “Folks that are buying things in the retail stores — all of us as consumers are going to feel the price increase because no one has the ability to absorb 25 percent of the price increase.”
For the full interview, check out the article (https://www.nbc4i.com/news/local-news/local-companies-feeling-the-effect-of-trumps-chinese-tariffs/).The article discusses the effects on Ohio soybean farmers and more. Overall, it has been a big game of cost-sharing from domestic and international manufacturers as well as end-consumers. Soybean farmers in Ohio will be particularly hard hit. Scott Metzger, president of the Ohio Soybean Association and a soybean farmer, said the tariffs are compounding the problem of an already tight market for farmers.