US President Donald Trump's higher tariffs on Chinese imports will have "dire consequences" for US equipment manufacturers and worsen prospects for American farmers and others already reeling from lower commodity prices, an industry trade group warned on Friday.
The tariffs will"drive down exports, and suppress job gains for the industry by as much as 400,000 over 10 years. It will also invite China to hit back at American businesses, farmers, communities, and families", said Kip Eideberg, vice president of government affairs for the Association of Equipment Manufacturers, which represents more than 1,000 US makers of farm, construction and mining machinery.
"With producers already struggling with falling commodity prices, additional retaliatory tariffs on US agricultural exports will have a chilling effect on equipment manufacturers," Mr Eideberg said in a statement after the penalties went into effect.
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