MINNEAPOLIS (WCCO) – President Donald Trump has ordered $200 billion in new tariffs on China.
That’s just days after imposing more than $50 billion in tariffs on Chinese imports.
China’s striking back.
And Minnesota farmers in counties that voted for Trump could be hardest hit.
New data by Moody’s Analytics show vast areas of the Great Plains are most affected.
A Wall Street Journal map shows the worst economic damage right down the middle of the country — in the reddest of red Trump counties.
The retaliation barely touches blue Hillary Clinton counties on the east and west coasts.
Trump came close to winning Minnesota with major support from farm country, capturing 75 of 87 Minnesota counties.
“We came this close,” he told a cheering audience in Duluth last month, while squeezing his thumb and forefinger together.
But now most of those counties will suffer from retaliatory tariffs, especially from China.
How bad will it be?
Minnesota producers expect to get slammed by the new China tax, according to the Minnesota Trade Office.
At the top of the list: swine by-products, which are used for a wide range of items from paint to heart valves. ($52M)
The rest of the list looks like this:
– Whey ($39M)
– Soybeans ($26M)
– Animal By-Products ($13M)
– Chicken ($12M)
– Pork ($5M)
Trump appears concerned about soybean prices, tweeting that he is fighting for farmers and a better future.
Here’s his tweet on Wednesday:
I am in Brussels, but always thinking about our farmers. Soy beans fell 50% from 2012 to my election. Farmers have done poorly for 15 years. Other countries’ trade barriers and tariffs have been destroying their businesses. I will open…
— Donald J. Trump (@realDonaldTrump) July 11, 2018
But Moody’s calculates the damage could be significant.
The gross domestic product will be hit hard in many Minnesota counties that voted for Trump, compared to any benefits the counties might receive.
Here are the hardest hit counties in Minnesota, and the percentage of their local economies which will be affected:
— Todd (34.7 percent)
— Watonwan (32 percent)
— Nobles (29 percent)
— Marshall (25.3 percent)
— Norman (25.5 percent)
— Murray (24.6 percent)
— Traverse 23.1 percent
— Lac qui Parle (22.8 percent)
— Red Lake (22.7 percent)
–Kittson (22.4 percent)