Updated June 6 at 5 a.m.
With the Trump administration enacting $34 billion of new tariffs on Chinese goods Friday and China levying counter-tariffs, retaliatory measures announced or implemented by China, Canada, the EU and Mexico will threaten $881 million of Missouri exports, according to a U.S. Chamber of Commerce analysis.
Different business groups and industries have expressed concerns about the tariffs’ effects on Missouri.
U.S. Chamber of Commerce
The U.S. Chamber denounced Trump’s handling of global trade and provided a state-by-state analysis of how the tariffs could affect the country. The organization said that duties threaten total Missouri exports of:
- $432 million to Canada
- $239 million to Europe
- $138 million to China
- $72 million to Mexico
Among the Missouri exports the U.S. Chamber said would be hit hardest by retaliatory measures are motorcycle exports to Europe, totaling $222 million annually; fungicides sent to Canada, representing a combined $114 million annually; and retail surface-active products to Canada, like soap and cleaning supplies, adding up to $85 million annually.
Some 826,700 jobs in Missouri supported by global commerce could be affected by a trade dispute, according to the U.S. Chamber.
Missouri farmers fear that China’s retaliatory tariffs could cause soybean prices to collapse, the Columbia Missourian reports. As of early this week, soybean prices had dropped by $1.30 per bushel since Trump’s June announcement of planned trade action against China.
Missouri ranked No. 8 among the 50 states for soybean exports in 2016, shipping than $1.3 billion worth of beans abroad.
U.S. pork exports also would also suffer as a result of Chinese retaliation, according to China’s Ministry of Commerce. Pork and pork products ranked as the top agricultural exports from Missouri in 2016, according to the Missouri Department of Agriculture, with more than $328 million shipped internationally.
Update – This story was updated to reflect U.S. tariffs and Chinese counter-tariffs taking effect June 6. A previous version of the story was published before the trade actions were official.