WASHINGTON, D.C. (NEXSTAR) — President Donald Trump just returned to Washington from meeting with China’s President Xi at the G20 Summit — and he says he’s not agreeing to a deal unless it is good for the United States.
But for now, there’s a temporary truce.
Trump says he will hold off on $300 billion in planned tariffs on imported Chinese goods and China promised to buy more agricultural products from the U.S.
But some fear that delaying a deal will hurt American farmers.
Bill Reisch with the Center for Strategic and International Studies says the two countries are now starting from scratch, and American farmers can’t afford to wait much longer.
The longer he doesn’t fix it, the more nervous they get,” said Reisch. “Farm bankruptcies are up this year, they have been further hurt by the weather.”
American farmers rely on exporting products to China, but the tariffs make things like U.S. grown soybeans and pork too expensive for those Chinese markets.
And Clark Packard with the R Street Institute says it’s only going to get worse until the two countries reach a final deal, saying:
“If we don’t see sufficient progress in three or four months, we may be back in a position where the United States is threatening tariffs.”