(WAFF) - China says it will impose new tariffs on $60 billion worth of American goods in retaliation for the latest tariff threats from the Trump administration. This new tax will impact cattle farmers here in the Tennessee Valley.
Jim Atkins of the Alabama Cattlemen's Association said this trade war is going to be a big blow for the beef industry.
Atkins said this new tariff increase will be unfortunate for cattle farmers across the country.
U.S farmer profits are at some of their lowest levels in more than a decade, according to the Department of Agriculture. Now American beef producers will have to pay more to sell to China, while at the same time lose some of their existing income as Chinese buyers seek cheaper imports from other countries.
He said if things don't change it will continue to get worse for the cattle and meat packing industries.
According to the Chinese government, the beef industry could see import taxes range in rates from 5 percent to 25 percent.
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