Dermot Hayes, professor, was quoted in a Jan. 15 MarketScreener.com story, "Redx Pharma : NPPC Welcomes Phase-One Trade Deal with China; Urges Elimination of All Punitive Tariffs."
According to Iowa State University Economist Dermot Hayes, if U.S. pork gets unrestricted access to the Chinese market, it will reduce the overall U.S. trade deficit with China by nearly six percent, generate 184,000 new U.S. jobs and produce $24.5 billion in new pork exports all within the next decade. "However, if the U.S. continues to face 60 percent punitive tariffs (and a cumulative tariff of 68 percent), while our competitor nations are assessed an 8 percent tariff, U.S. pork sales will be suppressed as China imports more pork from other nations."
This story also covered by
AgNet West, Jan. 15
Southernminn.com, Jan. 21
Southwest Daily News, Jan. 21