Slocum recalls the story of Mississippi soybeans being delayed by China due to Chinese officials suddenly deciding they don’t need anymore soybeans. This has been included as part of the cost of doing business in China. These tariffs are an entirely different story,” Slocum, 64, said. Slocum farms approximately 1,000 acres in Tate County, northwest Mississippi, and also owns North Mississippi Grain Co., Coldwater, which purchases crops from other local farmers. Slocum, a graduate of Mississippi State University, who is a farmer and followed his father’s footsteps, warned that any trade war between the United States, China, and Mississippi will hurt Mississippi farmers and the Mississippi economy. The president announced earlier this month that he would impose tariffs of $50 billion on China, which is the first 34% billion to be imposed by the United States in July. 25 percent tariffs would apply to all imported Chinese-made goods. China responded by imposing similar tariffs on agricultural products. Soybeans, Mississippi’s most exported product, was one of the main agricultural products that were affected by the Chinese tariffs. Slocum stated, “Here in Mississippi, we are extremely dependent upon exports.” Slocum stated, “And China is by far and away the largest importer of soybeans worldwide.” The total US soybean exports to China amount to more than $12 billion annually. According to the United States Department of Agriculture in 2017, Mississippi exported $109.7 Million in soybeans to China. Slocum employs approximately 15 people in his agricultural enterprises. He is certain that tariffs will have an impact on the pockets of farmers like himself, but it is hard to quantify the impact. As China is already looking to purchase soybeans from other countries, soybean prices fell to a nine year low this week. Slocum stated that he supports the president’s efforts for a more equal trade environment. Slocum stated, “But at the same time, I believe that free trade is important, especially in agriculture.” China’s tariffs in retaliation for Trump’s tariffs will also be applied to other products such as cotton, corn, and soybeans. Poultry is another important Mississippi export. It does not travel to China in large quantities. I support his efforts to create a fairer, more balanced and more transparent trade but agriculture cannot afford to pay all of it… “We (Mississippi farmers), are being the hardest hit. Slocum stated that the tariffs placed Mississippians and Mississippi politicians into a difficult position. Many of the Republican state political leaders are aligned with the president and reluctant to criticize him. Governor. Phil Bryant, a strong Trump ally said: “The economy is booming, and unemployment has reached new lows here in Mississippi and nationwide. “President Trump places American workers and businesses first, and his policies continue that to bear that out,” the state’s Republican senators Roger Wicker (Republican) and Cindy Hyde Smith, shared similar sentiments. Wicker stated that China has a long history with unfair trade practices. “President Trump is a strong negotiator who isn’t afraid to seek the best deals for our nation. Hyde-Smith was more cautious. She stated that she thinks it is a mistake by the Chinese government to place American soybeans in its crosshairs in retaliation against President Trump’s demand to have a level playing field. “I am closely following this situation because these global trade decisions impact Mississippi agricultural producers. Slocum stated that he hopes this dispute can be resolved quickly and fairly. He also said that trade issues related to the North American Free Trade Agreement (NAFTA) with Canada and Mexico – which are important trading partners for Mississippi farmers – also need to be resolved. Slocum stated that he still believes those issues can be resolved but isn’t optimistic they will be in the time frame to compensate for the financial losses suffered this year. Slocum stated that he is not confident that farmers will be able to recover from the financial losses incurred due to a large dip in the soybeans futures markets. The lower price of soybeans in 2017 is affecting the price, but it will soon have a negative impact on beans that are harvested later in the year. Bolton Democrat Bennie Thompson said that the tariffs Trump is expected to enact and implement will have a negative impact on local jobs and the economy in Mississippi. Without agriculture, the economy of Mississippi will suffer unintended losses. The 2nd Congressional District is almost entirely dependent on agriculture for its economic sources. Businesses in the district, which rely on imports of soybeans and steel as well as aluminum, will see their costs rise. “I will work with my Democratic counterparts to combat Trump’s proposal to ensure Mississippi farmers aren’t impacted by another harmful strategy by the Trump Administration.” China is the largest importer and also receives them from Brazil, Argentina, and Argentina. While the main focus has been on China’s trade disputes, efforts to renegotiate North American Free Trade Agreement (which relates to the United States and Mexico) have stalled. This is causing concern for Mississippi farmers such as Slocum. Trump has also proposed tariffs against certain European trading partners. It is difficult to predict the consequences of a trade conflict. It is difficult to predict the consequences of a trade war. For example, Harley Davidson, an iconic American motorcycle brand, has announced that it will move some production to Europe in order to avoid the European Union’s tariffs as retaliation for American tariffs.