Many anxious American farmers are delaying purchases and investment while hoping for a truce in a U.S.-China trade war that has left their crops at a competitive disadvantage overseas.
The longer the Trump administration’s tariffs remain in place, the more China’s retaliatory tariffs against American exports stand to hurt U.S. soybean and pork producers.
President Donald Trump’s administration on July 6 carried out its threat to impose 25 percent tariffs on $34 billion worth of Chinese products, alleging that Beijing steals or pressures U.S. companies to hand over technology. China responded with similar duties on the same amount of U.S. imports – including soybeans and pork. The administration July 10 announced a second possible round targeting $200 billion worth of goods. Beijing vowed “firm and forceful measures” in response.
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