Thursday, February 21, 2019

Farmers are the victims of our trade dispute with China

From Reuters:
“The share of total U.S. agricultural exports to China in value terms is projected to be 6 percent, down sharply, with China falling from the top market in 2017 to fifth place,” USDA Chief Economist Robert Johansson told the USDA annual forum in Washington.
He said the United States had exported 24 million metric tonnes of soybeans in the 2019 crop year, down 13.5 million metric tonnes from this time last year.
“Under the trade dispute, exports to China alone have plummeted by 22 million tonnes, or over 90 percent,” he said.
Johansson said sales of U.S. soybeans to the European Union, Egypt, Argentina, and others had risen, but that has “not been enough to make up for the lost exports to China.”

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