MARATHON COUNTY (WAOW)– The American ginseng capital is seeing impact from the trade war with China. Paul Hsu, the founder of Hsu’s Ginseng, said sales are already down this year.
Marathon County produces around 90% of American ginseng, and according to Hsu, 80% of that is exported to China and other Asian countries.
“If the tariff continues more than one or two or even three years, most of us won’t be able to survive,” Hsu said.
Senator Tammy Baldwin said she thinks Wisconsin is disproportionately affected by the trade war. “When you have retaliatory tariffs against cheese… cranberries and ginseng, our agricultural economy is really, really in the cross hairs,” she said.
But today, President Donald Trump announced $16 billion in aid to American farmers.
“The 16 billion in funds will help keep our cherished farms thriving and make clear that no country has veto on America’s economic and national security,” the president said.
Senator Ron Johnson said in a statement that he’s “making the administration fully aware of the short-term pain experienced by Wisconsin farmers and manufacturers.”
Hsu said this is the first time he’s seen tariffs like this in the 45 years he’s been in the business, and certainly hopes the trade war comes to an end soon.