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Senator Amanda Ragan complains that tariffs are hitting Iowa job and economy “from all sides”

Senator Amanda Ragan
The following is a legislative update from Senator Amanda Ragan of Mason City:

Iowa workers, farmers, businesses and our entire state economy are facing the fallout from an international trade war.

The U.S. has imposed tariffs on billions of dollars in Chinese goods, and China has responded with tariffs that hit Iowa exports especially hard. Similar standoffs are starting to emerge with other countries, including Canada and Mexico.

This is bad news. New tariffs on many key exports can hit Iowa hard. We’re already seeing layoffs, halted business expansions, and products selling for lower prices to defray the tariffs.

A recent Creighton University survey of Midwest bankers found that:

· More than 80 percent think a lack of qualified workers is having a negative impact on local hiring.
· About 60 percent expect farm prices to decline over the next year.
· Above 83 percent are responding to weak farm income by rejecting more loan applications, raising interest rates, reducing loan size or increasing collateral requirements.

In April, I joined 20 other Iowa state senators in asking President Trump to consider the negative consequences of a tariff war on Iowa farmers, rural communities and others whose livelihood is threatened.

At the state level, we can refocus our priorities and improve our situation by:

· Expanding affordable job training and education that build a skilled workforce.
· Enhancing what makes Iowa communities desirable places to live and work.
· Restoring fiscal discipline, and balancing the state budget.

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