Trade
Trump Trade War to Hurt US Farmers More as China Turns to Brazil
- China has plenty of soybeans this time as Trump vows tariffs
- US already struggling to regain stature as top crops exporter
This article is for subscribers only.
Donald Trump’s first trade war hurt American soybean farmers to the tune of $11 billion. A sequel is set to be even worse.
The humble bean was the poster child of Trump’s first tariff spat with China, with American shipments to the world’s top buyer of the commodity tumbling 79% in the first two years of his administration. Back then, the Asian nation still needed some American supplies. Now it can simply live off purchases from rival Brazil.