Central Texas farmers voice opposition to proposed tariffs - KXXV-TV News Channel 25 - Central Texas News and Weather for Waco, Temple, Killeen |

Central Texas farmers voice opposition to proposed tariffs

Source: KXXV Source: KXXV
BELL COUNTY, TX (KXXV) -

Central Texas farmers are concerned proposed tariffs for American and Chinese exports could hurt their business in a big way.

On Tuesday, the U.S. proposed to impose tariffs on 1,300 Chinese goods after an investigation by the United States Trade Representative revealed China's intellectual property theft costs the U.S. billions of dollars every year.

A day after, China fired back stating it planned to put tariffs on 106 U.S. products, including soybeans. 

Fleming Grain and Cattle Owner Robert Fleming said soybeans impact the prices of his corn and wheat crops.

"One night ago, corn fell 10 cents, so a person like me who has 100,000 bushels of corn in storage, I lost $10,000 overnight so that creates issues and fear in the market," Fleming said.

Fleming who owns farms in Bell, Freestone, Falls and Limestone County is acting quickly before the prices drop.

“I can’t say I’m putting anything on hold. I’m getting more aggressive on commodity sales. Me, personally I think we have a downtrend in commodities coming," Fleming said.

Fleming worries the situation could turn into a trade war between the two countries.  

“Agriculture always takes the brunt of a trade war," Fleming said.

The Texas Farm Bureau also opposes to the new tariffs due to concerns of a trade war.

"A trade war doesn't help anybody. It's very negative. Right now, I'll tell you that commodity prices are down by 50 percent of what they were four years ago... so having a disruption in trade is very concerning for us," Director of Government Affairs Regan Beck said.

Beck said the TFB agrees if other countries are doing unfair practices, the issue should be corrected. However, he worries about the future of agriculture. 

"It’s just a very difficult time for them to go on and stay afloat, stay in business," Beck said.

If the tariffs do go through, Beck said he is hopeful, there will be support for agriculture.

“We have heard from the administration that they are not forgetting about agriculture and they are trying to find some way of safety net to try to help, in case we do have some losses through trade. And we are talking to the administration to make sure that does happen," Beck said. 

President Donald Trump's economic advisor said the proposal of new tariffs is part of the administration negotiation strategy. 

Fleming said he wishes the new tariffs remain a proposal.

“Hopefully, this is an emotional deal and it will correct itself in a few months," Fleming said.

The administration will hold a public hearing for U.S. businesses on May 15.

Copyright 2018 KXXV. All rights reserved.

  • NewsMore>>

  • US arrests, accuses woman of acting as Russian agent

    US arrests, accuses woman of acting as Russian agent

    Monday, July 16 2018 4:09 PM EDT2018-07-16 20:09:37 GMT
    Tuesday, July 17 2018 5:48 AM EDT2018-07-17 09:48:56 GMT
    (AP Photo/Markus Schreiber). U.S. President Donald Trump, left, listens to Russian President Vladimir Putin during a press conference after their meeting at the Presidential Palace in Helsinki, Finland, Monday, July 16, 2018.(AP Photo/Markus Schreiber). U.S. President Donald Trump, left, listens to Russian President Vladimir Putin during a press conference after their meeting at the Presidential Palace in Helsinki, Finland, Monday, July 16, 2018.

    Federal authorities have arrested a Russian woman accused of conspiring to infiltrate American political organizations at the direction of a senior Kremlin official.

    More >>

    Federal authorities have arrested a Russian woman accused of conspiring to infiltrate American political organizations at the direction of a senior Kremlin official.

    More >>
  • Trump returns from summit with Putin to forceful criticism

    Trump returns from summit with Putin to forceful criticism

    Tuesday, July 17 2018 12:20 AM EDT2018-07-17 04:20:06 GMT
    Tuesday, July 17 2018 5:48 AM EDT2018-07-17 09:48:47 GMT
    (AP Photo/Pablo Martinez Monsivais). U.S. President Donald Trump speaks with Russian President Vladimir Putin during a press conference after their meeting at the Presidential Palace in Helsinki, Finland, Monday, July 16, 2018.(AP Photo/Pablo Martinez Monsivais). U.S. President Donald Trump speaks with Russian President Vladimir Putin during a press conference after their meeting at the Presidential Palace in Helsinki, Finland, Monday, July 16, 2018.

    Standing alongside Putin, Trump steered clear of any confrontation with the Russian, going so far as to question American intelligence and last week's federal indictments that accused 12 Russians of hacking into Democratic email accounts to hurt Hillary Clinton in 2016.

    More >>

    Standing alongside Putin, Trump steered clear of any confrontation with the Russian, going so far as to question American intelligence and last week's federal indictments that accused 12 Russians of hacking into Democratic email accounts to hurt Hillary Clinton in 2016.

    More >>
  • Hometown hero Harper wins thrilling HR Derby over Schwarber

    Hometown hero Harper wins thrilling HR Derby over Schwarber

    Monday, July 16 2018 10:47 PM EDT2018-07-17 02:47:41 GMT
    Tuesday, July 17 2018 5:42 AM EDT2018-07-17 09:42:13 GMT
    Washington Nationals Bryce Harper (34) reacts to his winning hit during the Major League Baseball Home Run Derby, Monday, July 16, 2018 in Washington. (AP Photo/Alex Brandon)Washington Nationals Bryce Harper (34) reacts to his winning hit during the Major League Baseball Home Run Derby, Monday, July 16, 2018 in Washington. (AP Photo/Alex Brandon)

    Harper thrills home crowd and father by winning Home Run Derby over Schwarber 19-18.

    More >>

    Harper thrills home crowd and father by winning Home Run Derby over Schwarber 19-18.

    More >>
Powered by Frankly