Rising US-China trade tensions 'couldn't come at a worse time': Iowa agriculture secretary [CNBC]
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Source: CNBC
Nicolas Asfouri | AFP | Getty Images China's President Xi Jinping shakes hands with U.S. President Donald Trump (L) during a business leaders event at the Great Hall of the People in Beijing on Nov. 9, 2017. American farmers have already been hurt by retaliatory tariffs from the U.S.- China trade war, and the ratcheting of tensions once again is unfortunate and comes at a bad time, according to Iowa Agriculture Secretary Mike Naig. As we head into the 2018 harvest season for corn and soybean out here in Iowa, this escalation of the trade conflict really couldn't come at a worse time, Naig said in an interview on CNBC's Closing Bell. On Monday, the Trump administration escalated the trade tussle with China by announcing tariffs of 10 percent on some $200 billion of Chinese goods . Those duties will jump to 25 percent on Jan. 1. Beijing responded by imposing levies of between 5 percent and 10 percent on $60 billion worth of U.S. pro
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