# Trump Considering 60% Tariff on China | Farm Policy News | Illinois

> Former President Trump confirmed he is considering tariffs of 60% or higher on Chinese goods in a second term, plus a blanket 10% tariff on all US imports. China responded to earlier Trump-era tariffs with retaliatory levies on US soybeans, wheat and poultry. Biden largely kept those tariffs in place.

- Date: 2024-02-06 · published 2024-02-06T12:00:00.000Z
- Category: trade · region US · magnitude medium
- Page: https://feedsoft.ai/events/14778-trump-considering-60-tariff-on-china-farm-policy-news-illinois
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Chicken](https://feedsoft.ai/c/CHICKEN.md)

## Why it matters

Escalated tariffs would likely trigger Chinese retaliation against US soybeans, wheat and poultry, pressuring those prices. The proposal is not yet policy, so its impact depends on the election outcome.

## Read by commodity

- SOY: bearish ▼
- WHEAT: bearish ▼
- CHICKEN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2024-10-17 | [New US-China Trade War Could Cost Farmers Billions \| Farm Policy News \| Illinois](https://feedsoft.ai/events/27846-new-us-china-trade-war-could-cost-farmers-billions-farm-policy-news-illinois.md) | +1.8% | +2.5% |
| SOY | 2018-04-12 | [Federal Assistance for Farm Trade Impacts \| Farm Policy News \| Illinois](https://feedsoft.ai/events/65505-federal-assistance-for-farm-trade-impacts-farm-policy-news-illinois.md) | -0.6% | -3.9% |
| SOY | 2017-02-07 | [Trade Policy Uncertainty: Lingering Concern for Farmers - Farm Policy News](https://feedsoft.ai/events/72478-trade-policy-uncertainty-lingering-concern-for-farmers-farm-policy-news.md) | +1.8% | -2.1% |
| SOY | 2018-07-22 | [Tariffs and Commodity Prices: Impacts and Reactions - Farm Policy News](https://feedsoft.ai/events/6567-tariffs-and-commodity-prices-impacts-and-reactions-farm-policy-news.md) | +2.4% | +3.7% |
| SOY | 2018-03-11 | [New U.S. Tariffs Ramp-Up Fear of Ag Trade Retaliation; Soybean Growers Especially Worried \| Farm Policy News \| Illinois](https://feedsoft.ai/events/65985-new-u-s-tariffs-ramp-up-fear-of-ag-trade-retaliation-soybean-growers-especially.md) | +2.0% | +1.7% |
| WHEAT | 2018-07-22 | [Tariffs and Commodity Prices: Impacts and Reactions - Farm Policy News](https://feedsoft.ai/events/6567-tariffs-and-commodity-prices-impacts-and-reactions-farm-policy-news.md) | +2.5% | +2.3% |
| WHEAT | 2020-11-20 | [China Targets U.S. Farm Imports With Tariffs on Soy, Corn - Pork Business](https://feedsoft.ai/events/50015-china-targets-u-s-farm-imports-with-tariffs-on-soy-corn-pork-business.md) | -2.9% | +4.7% |
| WHEAT | 2021-04-22 | [Corn, Soybean Prices Climb, While Record Chinese Corn Imports Expected - Farm Policy News](https://feedsoft.ai/events/6621-corn-soybean-prices-climb-while-record-chinese-corn-imports-expected-farm.md) | +3.9% | +0.9% |

## Sources

- farmpolicynews.illinois.edu: https://farmpolicynews.illinois.edu/2024/02/trump-considering-60-tariff-on-china/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.