Trump claims a victory in China trade war, but U.S. farmers want details
New York - Saying China has promised to buy up to $50 billion in US agricultural products, President Donald Trump is encouraging American farmers to prepare for a major influx of business.
But on Monday, the country's biggest agricultural federation, the Farm Bureau, told AFP it was awaiting more concrete information on the tentative deal with China, which negotiators are continuing to finalize. At their peak in 2012 and 2013, when a drought in the US had sent the prices of agricultural commodities to record levels, exports to China reached no higher than $26 billion.
"Farmers in Wisconsin, Minnesota, Texas and elsewhere will still wake up facing double-digit tariffs into one of America's largest export markets," Kuehl said. China's soybean imports from the US totaled $12 billion in 2017; the Asian giant purchased 57 percent of all US soybean exports that year. Since the tariffs, China has upped its reliance on Brazil and Argentina for soybean supplies, while Mexico and some European Union members have purchased more of the US's crop.
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