More here: https://www.cnbc.com/2018/04/07/us-f...war-fears.html
US farmers in 'precarious position' with China as trade war fears escalate
American farmers watched warily this week, as a tit-for-tat trade fight between the world's top two economic superpowers played out, threatening lucrative agricultural exports including soybeans.
If China follows through on its plan to impose a 25 percent tariff on soybeans, it would make global suppliers like Brazil even more attractive to Chinese buyers. It also would encourage those suppliers to add more acres of soybeans, and then negatively impact the price American farmers can get for their crop.
"Growing trade disputes have placed farmers and ranchers in a precarious position," Zippy Duvall, a Georgia farmer and president of the American Farm Bureau Federation said in a statement Friday. "We have bills to pay and debts we must settle, and cannot afford to lose any market, much less one as important as China's."
American farmers watched warily this week, as a tit-for-tat trade fight between the world's top two economic superpowers played out, threatening lucrative agricultural exports including soybeans.
If China follows through on its plan to impose a 25 percent tariff on soybeans, it would make global suppliers like Brazil even more attractive to Chinese buyers. It also would encourage those suppliers to add more acres of soybeans, and then negatively impact the price American farmers can get for their crop.
"Growing trade disputes have placed farmers and ranchers in a precarious position," Zippy Duvall, a Georgia farmer and president of the American Farm Bureau Federation said in a statement Friday. "We have bills to pay and debts we must settle, and cannot afford to lose any market, much less one as important as China's."
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