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Ernst stikes back at Trump advisor comment that trade losses are "rounding error"

Even as the Trump administration’s trade war with China starts to bite farm country, producers aren’t getting a lot of sympathy from White House trade adviser Peter Navarro.  Navarro, speaking from the White House lawn , said the trade losses due to China’s new tariffs amount to a “rounding error.” Some soybean growers already are expected to go out of business later this year due to the depressed prices that resulted from China’s 25 percent retaliatory tariff. Senator Ernst released the following statement, with regard to White House trade advisor Peter Navarro telling CNBC that theeconomic impact of a trade war is a mere “rounding error,” and that the administration is playing a broader “chess board”: “Mr. Navarro, America’s farmers are caught in the crosshairs of this game of ‘chess.’ Offhand comments like the ones that Mr. Navarro made in his interview with CNBC today disregard the people whose livelihoods depend on global trade. In Iowa alone, more than 456,000 jobs are supported by trade, and these new tariffs are threatening $977 million in state exports.  That is no ‘rounding error.’ Those are real people – Iowans – who are waiting for terms to be negotiated, for new deals to be finalized.  We need to lessen the pressure on these hard-working farmers, and let them sell their goods.

 

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Ernst Senate Website