ALBION, Ind. (WFFT) - China's government warned it will retaliate if the U.S. imposes new trade penalties.
This comes after the Trump Administration said it is increasing the tariff rate an additional $200 billion on Chinese imports.
Farmers in northeast Indiana export pork to China, and this could hurt their bottom line.
"I think just that negative news has been a negative to the price that we're getting," said Rebecca Shroeder, Whiteshire Hamroc president.
Shroeder said the United States is the most efficient pork producer in the world.
"Not only are we a low cost producer, we're a good producer, we've actually increased production," she said.
She said her Noble County farm could loose a third of its income because of tariffs.
"That erodes our profitability very quickly after you take a third of what we receive for that product," Shroeder said.
President Donald Trump is working to rework trade deals to make them more fair, something many people support.
"The bottom line is the President's going to continue to hold China responsible for their unfair trade practices. This has gone on long enough, and he's going to do something about it," said White House Press Secretary Sarah Sanders.
But Shroeder said the U.S. needs to start looking at exporting to new countries.
"China's local pig production is really quite high right now. Their goal is to be self sufficient as well and not have to rely on other countries," she said.
President Trump is offering a $12 billion bailout for farmers caught in the middle of the trade war. Shroeder isn't sure exactly how that's going to work.
- Trade war with China impacts local farms
- Area farmers concerned about looming trade war
- World bracing for risk of Trump's trade war
- Local turkey farms provide more than just poultry
- Solomon Farm Park hosts Christmas on the farm
- Northwest Ohio Wind Farm unveiled
- 29th annual Farm Show kicks off
- Donnelly weighs in on 2018 Farm Bill
- Norwell student dead after farming accident
- One dead in farming accident near Roanoke