Investigate Midwest (https://investigatemidwest.org/series/trade-with-china/)
As China and the U.S. swap threats of import taxes on billions of dollars of goods, financial markets fluctuated and farmers are frustrated, saying they worry over hard-built trade relationships with one of their largest customers.
Argentina and Brazil may fill China’s soybean needs if China imposes a 25 percent tariff on U.S. soybean exports. And experts say : “China is the world’s largest consumer, and the U.S. is the largest producer, … so they’ll need to replace the U.S. with some other country,”
Earlier this month, the U.S. and China both announced billions of dollars in taxes on billions of dollars worth of imported goods - China is seeking tariffs on $50 billion worth of U.S. products that include soybeans and pork while the U.S. announced taxes on $150 billion worth of 1,300 Chinese products, including electronics. Here’s a look at what farm organizations in the Midwest have to say.
Congressional leaders said they would explore federal help for farmers should tariffs be put in place but Tamara Nelson, senior director of commodities for the Illinois Farm Bureau, said the moves would not help. “Farmers don’t want aid, farmers want to be able to trade,” she said.
As Dave Dickey writes, U.S. grain and oilseed farmers, specialty crop growers and pork producers are hoping that China and U.S. leadership pull back their reins on the potential for a full-blown trade war that could cripple U.S. gross domestic product.