Amid U.S.-China trade tensions, China, once the top buyer of U.S. soybeans, has halted pre-orders. That’s a loss of 21% of exports, reigniting farmers’ fears of a repeat of the agricultural loss of 2018. However, the Trump administration is rolling out aid to support affected farmers. While crop farmers face losses, U.S. shrimp farmers welcome tariffs, hoping pricier imports, over 90% of U.S. supply, will boost domestic competitiveness. Companies farmers rely on are also feeling the pinch from tariffs. On its Q3 earnings call Tractor-maker John Deere said sales were down and higher tariffs on steel and aluminum would cost it $600 million in 2025.
Chapters:
0:00 Introduction
1:39 Chapter 1: Soybean boycott
4:24 Chapter 2: Cheap imports
6:50 Chapter 3: U.S. farms
Produced by: DeLon Thornton
Edited by: Mike Heffron
Camera by: Jordan Wyatt
Senior Managing Producer: Shawn Baldwin
Graphics by: Emily Park
Additional Footage: Getty Images
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How Trump’s Tariffs Are Impacting U.S. Farmers — It’s Not All Bad
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