For US farmers such as Dave Struthers in Collins, Iowa, this is just like dj vu all over again. As recently as late May, the Trump administration had put a hold on punitive tariffs on up to $150 billion in Chinese products. In response, China called off tariffs on US products, including pork and other meats. "We know about supply and demand but we have never dealt with tariffs and what it would do to our businesses." Tariffs will lower the price here and hurt beef consumption," Bonds said.