Senator Ernst (R-IA) released the following statement, with regard to White House trade advisor Peter Navarro telling CNBC that the economic impact of a trade war is a mere “rounding error,” and that the administration is playing a broader “chess board”:
“Mr. Navarro, America’s farmers are caught in the crosshairs of this game of ‘chess.’ Offhand comments like the ones that Mr. Navarro made in his interview with CNBC today disregard the people whose livelihoods depend on global trade. In Iowa alone, more than 456,000 jobs are supported by trade, and these new tariffs are threatening $977 million in state exports. That is no ‘rounding error.’ Those are real people – Iowans – who are waiting for terms to be negotiated, for new deals to be finalized. We need to lessen the pressure on these hard-working farmers, and let them sell their goods.
“Iowans come to me every day to talk about trade, trade, trade and the RFS. And, I have had productive conversations with Ambassador Lighthizer, Secretary Perdue and President Trump about the administration’s hard work to open up new markets for our products and finalize pending deals. Farmers are optimistic, but we can’t take optimism to the bank. Comments like the ones made by Mr. Navarro hurt that progress and hurt our farmers.”