Farm Bureau Joins In Criticism of Navarro On Impact Of Tariffs

White House trade adviser Peter Navarro told CNBC last Thursday that the damage from the trade war so far is no big deal. “We got two economies that add up to around $30 trillion in annual GDP. The amount of trade we’re affecting with the tariffs is a rounding error compared to that,” he said.Navarro's remarks drew a sharp rebuke from Sen. Joni Ernst, R-Iowa.The American Farm Bureau Federation added their views, stating they have watched retaliatory tariffs hit US agriculture especially hard.“Prices for all of our export-sensitive farm goods have tanked since May, when this tariff game started. Farm income was already off by half compared to four years ago, with debt levels rising — hardly a strong position for agriculture going into this trade war,” said the Farm Bureau. “This situation will only worsen as combines roll between now and the fall election season. The nation’s farmers and ranchers support the broader goal of strengthening our overall economy and trade balance, but not at the risk of long-term, irreparable harm to our ag exports and the jobs they create.”