HomeMarket NewsDonald Trump aims for tariffs on Indian rice — Will KRBL, LT Foods be impacted?
Farmers, according to Trump, have blamed the alleged dumping of Indian rice in to the US for the falling rice prices. The dumping, as per the farmers, also comes from Vietnam and Thailand.
US President Donald Trump has signaled that he could impose fresh tariffs on agricultural products, including Canadian fertilizer and Indian Rice.
Speaking to reporters at the White House on Monday, where he announced a $12 billion package for US farmers, Trump said that some farmers have told him that cheaper imports are making it difficult for their products to compete in the market place.
Farmers, according to Trump, have blamed the alleged dumping of Indian rice in to the US for the falling rice prices. The dumping, as per the farmers, also comes from Vietnam and Thailand.
“They shouldn’t be dumping,” Trump said. “I mean, I heard that, I heard that from others. You can’t do that.” The President went on to add that he would “take care” of the alleged dumping, without specifying the steps he would take.
Trump’s remarks put rice stocks like LT Foods and KRBL in the spotlight, both of which have a substantial export market.
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