Tue May 14, 2019, 11:09 AM

US Farmers Who Sell to China Feel Pain of Beijings Tariffs


DES MOINES, Iowa (AP) — China’s announcement Monday of higher tariffs on $60 billion of American exports — retaliation for President Donald Trump’s latest penalties on Chinese goods — hit particularly hard in the farm belt. China’s vast consumer market has been a vital source of revenue for American farmers.

Since December, when U.S. and China negotiators called a truce to tariffs and began signaling that an agreement might be reached, soybean farmers had been holding out hope that sales to China would resume, said Todd Hultman, an Omaha-based grain market analyst with agriculture market data provider DTN. In the meantime, the farmers had been storing a record stockpile of nearly 1 billion bushels.

The latest news of a new round of tariffs, with no agreement in sight, spooked the financial markets and some farmers who had been tentatively optimistic.

“This is hitting the market at a very emotionally distressful time,” Hultman said. “The rug of hope was pulled out from under us and especially with the announcement this morning that China is going to retaliate with higher tariffs of their own.”

In a statement Monday, the American Soybean Association reacted with frustration edged with anxiety.

“The sentiment out in farm country is getting grimmer by the day,” said John Heisdorffer, a soybean farmer in Keota, Iowa, who is chairman of the ASA. “Our patience is waning, our finances are suffering and the stress from months of living with the consequences of these tariffs is mounting.”



1 replies, 123 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 1 replies Author Time Post
Reply US Farmers Who Sell to China Feel Pain of Beijings Tariffs (Original post)
RCW2014 May 2019 OP
Jardinier May 2019 #1

Response to RCW2014 (Original post)

Tue May 14, 2019, 12:39 PM

1. We export to China. It's our main market.

The Chinese Dairy farmers are going to be in trouble if they don't get our Timothy and Alfalfa to feed their Chinese cows with. I don't know what kind of season the Australian growers just got through but I heard about massive droughts there. If they got low yields - wow - poor Chinamencows.

Farmers are used to weathering storms. Nothing is for sure in this racket.

By the way, the greedy fucking dock workers strike of a few years ago hurt us very, very badly. You don't hear about that do you because the greedy cunts were union blokes. $150,000 - $200,000 a year wasn't good enough for them.

lol they were replaced with robots.......

Reply to this post

Back to top Alert abuse Link here Permalink