Virginia Tech professor of agricultural and applied economics Mary Marchant has focused her research efforts on Chinese markets for over a decade. Marchant says international trade theories predict when two or more countries impose tariffs, both countries lose. Right now, ‘cool heads’ are needed to deescalate the trade standoff between the U.S. and China. “To reverse this, we need to look to both government and agriculture leaders in the U.S. and China,” says Marchant. The potential tariffs would cause U.S. goods to be more expensive, which could be devastating for farmers. “From an agricultural prospective, we need China, but they need us, too. China is working on diversifying it’s suppliers, so that goes back to building a relationship. A trade war goes against establishing trust.”
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