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China Stops Buying US Agricultural Products Entirely


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FUCK TRUMP.......THE GREAT NEGOTIATOR MY ASS....

China Stops Buying US Agricultural Products Entirely


Modern Farmer 

By Dan Nosowitz ON AUGUST 7, 2019 
 
On Tuesday, the Chinese Commerce Ministry announced that China will no longer be buying American agricultural products, a decision with huge, wide-ranging implications. Zippy Duvall, president of the normally conservative-leaning American Farm Bureau, called the decision a “body blow” to American agriculture. 

The Chinese decision is a response to two moves from Donald Trump and his administration. The first was a surprise announcement, made by Trump, that the US would begin instituting a 10 percent tariff on about $300 billion worth of Chinese goods. This came following a series of trade negotiations that press officers in the Trump administration described as “productive,” but Trump tweeted that China had reneged on promises to purchase certain American agricultural products (without specifying what those might have been). 

Then, on Monday, Treasury Secretary Steven Mnuchin formally labeled China as a currency manipulator due to a drop in the value of the yuan. The move is largely symbolic, but also nearly unprecedented, and seen as mostly an open-handed slap in the face to China. 

In response, it appears, came the Chinese government’s tactic to halt the purchase of American agricultural goods. China’s targeting of American agriculture has the benefit, in China’s perspective, of being both a large and a political attack. China imports billions of dollars of American agriculture, being the largest importer of American soybeans and a top-three importer of American pork; overall, China is the fourth-largest importer of American agricultural goods. But attacking American agriculture also serves as a de facto attack on Trump, who is perceived to draw support from rural America. This will be yet another insanely heavy burden on American farmers, who have dealt with fallout from the trade war for over a year, in addition to swine flu, floods, droughts, and heat waves.
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Funny, the markets were going up on beans and wheat earlier this afternoon MC.  :news:

I will say though, bullshit on Trump's decision to back off on tariffs on toys and cell phones until after the holiday season.  That one still grinds my fucking gears.  :wall:

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Just now, racinfarmer said:

I can't speak for other farmers here, but more of our product ends up in Europe then China.

From Europe on to China probably.  :lol: Beans around here have been going to Vietnam or Perdue for chicken feed along the eastern shore.

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Just now, racinfarmer said:

It all helps pay some bills!  Edibles to the US, Canada, and Europe and soy to the crushers.

That's all we've been doing, is paying bills year after year.  We were  just saying today how the prices would be fine, if the input costs wouldn't be so high.

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  • Trying to pay the bills, lol

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