How steel tariffs could affect Illinois farmers - WEEK.com: Peoria-area News, Weather, Sports

How steel tariffs could affect Illinois farmers

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PEORIA, Ill. (WEEK) -

As international trade talks continue, some Farmers here in central Illinois are a little uneasy over tariffs.

Some U.S. companies that use steel and aluminum actually say lay-offs may be possible with President Trump's proposed tariffs, because they feel it will impact their profits.

So how could it affect Farmers?

The Illinois Farm Bureau says potential tariffs on imported steel are creating some unknowns within the ag community.

The potential policy in question would set a 25% steel tariff and 10-percent tariff on aluminum.

Peoria County Farm Bureau Manager Patrick Kirchhofer said farmers rely heavily on steel for their daily operations.

"You've got the buildings, ... that are steel framed, you've got the grain storage bins, that ...people can see in the country-side. ... They've got their farm machinery, combines, tractors, planters, wagons, grain-augers, trucks."

President Trump says he intends to protect the economy, with tariffs he's recently proposed, but it's created quite a bit of controversy.

Meanwhile, the farm bureau says the majority of steel in the U.S. comes from Canada, with about 10% coming from Mexico.

Many associate trump's trade talks with China, but when it comes to steel, the farm bureau says only 2% of the product comes from China.

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