August 1, 2018/Press Release

ICYMI: KMBC: Impact of trade-war on Kansas City’s products is huge

COLUMBIA, Mo. — The Kansas City region is taking a major hit from the ongoing trade war, according to a new KMBC report. Regional small business, agriculture, and other leaders yesterday told KMBC that as the trade war continues to escalate, “they’re starting to feel the pinch” and there is “no end in sight.” From soybeans and cars to fungicides and aluminum items, profits from many Kansas City area exports are dropping thanks to the administrations’ tariffs.

From KMBC News:

Kansas City was host to some blunt talk Tuesday about the impact of the trade war on our region. And almost none of it is good.

…”Everything from automobiles and automotive parts, fungicides and herbicides, aluminum items and household items like soap, they’re all produced here in the Kansas City region,” said Joe Reardon with the Kansas City Chamber of Commerce.

…”What we see is an escalating trade battle with no end in sight,” said Ben Breazeale, VP at Cargill.

Soybeans in the field are now worth 10 to 20 percent less than when they were planted this spring. There’s no quick turnaround to this in sight.

“And it’s going to make it difficult to even get financing for next year, 2019,” said Richmond Soybean Farmer Ronnie Russell.

…In your house, the aluminum tariff hike will probably increase the cost of a can of a soft drink or a beer since the can is the most expensive part of a canned drink.

…[Tuesday was] the first time regional small business, agri-business, and general leaders have spoken with one voice.

They all agree – they’re starting to feel the pinch.