Local farmers are preparing for possible changes as the war on tariffs between the United States and China continues. This comes just after the country made threats Friday to implement more tariffs on U.S. goods.
Dan Palladino, Partner of Palladino & Carley Farms, LLC., is hopeful that there will be a resolution soon.
“And if not, we may hold our beans in storage and not sell them right away,” Palladino said.
China placed a retaliatory high tariff on soybeans last month. Since then, farmers like Palladino, who ship the crop out of the Port of Oswego, have been finding ways to adapt to differing prices.
“Truly open trade without tariffs placed by any country is what we seek because we can produce efficiently in the United States and in NY and elsewhere,” Palladino said.
Until that time, Palladino and his business partners are opening up a brewery and restaurant. Soybeans are a key stakeholder in the process, and Palladino said the crop serves as a primer for malted barley. However, Palladino acknowledged that other farmers may not have the ability to take on other projects such as this one. For those circumstances, the Trump administration recently announced $12 billion in emergency funding for farmers and ranchers who may be struggling from the tariffs. While this could be a temporary fix, Palladino said workers would rather see a market change.
“If we can find a way to supply our markets and take back our markets, then these issues that we face on a global basis wouldn’t impact us as much,” Palladino said.
Until that time, Palladino and other local farmers are still unsure on how the tariffs may impact the future of their businesses.