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Chinese officials today announced tariffs on $60 billion in U.S. goods in retaliation for the U.S. decision to hike duties on Chinese goods. The US and China have struggled to sign a trade deal and end a widening trade war.
Iowa’s 4thdistrict congressman Steve King says he is disappointed that the US and China couldn’t reach a deal. King says supports President Trump’s efforts to equalized trade with China, but he is concerned about the effects on farmers.
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“Now we’re into the second year of this, and they’re ready to start recovering some of the net assets that they’ve spent. We’ve been spending out of their equity in agriculture in a lot of areas so let’s hang in there and get it done.”
King says he would also like to finalize the US-Mexico-Canada Trade deal finalized to open up more markets for US corn, soybeans and pork.
Iowa’s top prosecutor is one of forty-four attorneys general who is taking part in a lawsuit alleging that twenty of the country’s largest generic drug makers are inflating and manipulating drug prices.
Attorney General Tom Miller says the suit argues that company executives worked together to set prices and rig bids on drugs that treat a wide range of medical conditions.
Miller says the scheme has amounted to billions of dollars in fraud. The lawsuit was filed in the U.S. District Court of Connecticut