Tuesday, April 29, 2025

 the trump tariff wars hit home;


China is normally the largest export market for U.S. agricultural products.  In a typical year, we sell tens of billions of dollars worth of agricultural products to the Chinese, but now that door has been slammed shut thanks to the extremely high tariffs that China has imposed on U.S. imports.  If that door is not reopened very soon, farmers all over the nation will be facing financial ruin due to massive financial losses that are already piling up.  This is not a crisis that may or may not arrive someday.  As you will see below, this is a crisis that is already here.

More than 1.4 billion people live in China.  We send them massive amounts of soy and pork in a normal year, and that has been a very profitable arrangement for U.S. farmers.  Unfortunately, demand has dried up due to the trade war, and this has thrown the U.S. agriculture industry into a state of chaos

Soy has been severely impacted, with a 125% tariff imposed by China causing a steep decline in exports. Although recent comments from Trump hint at possible tariff reductions, prices for soy derivatives like tofu and animal feed have already climbed. Pork exports have suffered from tariffs reaching up to 72%, leading to higher domestic prices for bacon and pork chops. Dairy products, including cheese and milk, have seen prices spike after China and Mexico introduced new tariffs, affecting popular varieties like cheddar and mozzarella............more..........

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