Economics
U.S.-China Spat Risks Permanently Altering Trade, Cargill Warns
- Headwinds for American farmers are ‘the new normal,’ CFO says
- China has snubbed U.S. crops and turned to South America
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The longer the trade war between the U.S. and China persists, the more permanent the shift in trade flows of agricultural products will become.
That’s according to David Dines, the chief financial officer of Cargill Inc., America’s largest privately-held company. The agribusiness giant on Thursday posted the steepest profit decline in four years partly because of the tumult caused by Donald Trump’s spat with China.