WASHINGTON – Following the Biden administration’s GREET Model update, Sen. Chuck Grassley (R-Iowa) today joined Fox Business’ Kudlow to explain how the agriculture supply chain handles its corn and soybeans. As a member of the Senate Finance and Agriculture Committees, Grassley additionally underscored the importance of free trade in light of President Biden’s move to hike tariffs on Chinese imports.
The GREET Model for Sustainable Aviation Fuel:
“The [GREET] Model is a good, scientific formula. But it’s been politicized here in Washington, D.C. by bureaucrats who don’t know anything about family farming and how we raise corn and soybeans. We need that corn and soybeans to get the next generation of aviation fuel. But they’re doing it in such a complicated way that they aren’t going to get any farmers to cooperate in it.”
Proven Impact of Instituting Tariffs on China:
“We’re ten years behind fighting China on the trade war. They’ve been stealing our intellectual property, our trade secrets, they’ve been making Americans do business the way the Chinese Communist Party wants it done. We should be getting them out of the World Trade Organization because they aren’t following the rules of international trade. Instead of putting tariffs on, we should be using the offsets we have when foreign governments subsidize – dollar for dollar, it should be.
“I think going the tariff war way is going to invite retaliation like we saw in the previous administration when it was put on: we saw retaliation against agriculture products for a state like mine, where we produce a third more than we consume domestically. We have to export. We can’t have a trade war that hurts some segments of the American economy.
“China is doing things that are entirely wrong by subsidizing their products or restricting exports of their products so they can monopolize the market. And they’re really doing it in a way to get their own economy going again by emphasizing subsidized manufacturing and then dumping it all over the world.”
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