An attorney with a very interesting perspective on the U.S. – China trade war was in Sioux Falls on Tuesday.
Nick Jinying Zhan is a Chinese attorney who lives in the United States and gives advice to businesses.
Many of those who came to hear Zhan speak are feeling the effects of the U.S. – China trade war.
“There’s been about a four percent increase just from the cost of steel,” Emily Johnson said.
Johnson is the international marketing coordinator at Kolberg Pioneer. The Yankton company makes rock crushers, along with other products.
“It costs just as much to get steel out of the United States as it does out of a foreign country now,” Johnson said.
In addition to manufacturing, Zhan believes the tariffs are bad news for many medium and small businesses in South Dakota. He also thinks it will hurt agriculture not just in the short-term, but the long-run.
“China is not buying agriculture products from the United States anymore because of the increased tariffs. They are shifting their sourcing to South America, Russia and other countries,” Zhan said.
From a Chinese perspective, Zhan says the tariffs have mixed reviews, but he doesn’t think the country can handle this many changes all at once. He also believes the two countries need to reach common ground soon.
“If it continues, it’s not going to be good for both countries,” Zhan said.
An international debate that has consequences right here in South Dakota.
“You see a lot of worry coming from the tariffs,” Johnson said.
On Tuesday President Trump said he was ready to strike a “great deal” with China over trade, but he warned of more tariffs if the countries could not find a middle ground.