Heading into this year, most U. S. farmers were hoping to break even or maybe record a small profit, if they could find a way to limit their sky-high costs. But now they are faced with losing the biggest export market for many of their crops after China retaliated against President Donald Trump’s tariffs. Soybean and sorghum farmers have particular reason to worry because at least half of those crops are exported and China has long been the biggest buyer. China has also bought a lot of American corn, beef, chicken and other crops as part of spending $24.65 billion on U. S. agricultural products last year. Now with China slapping 34% tariffs on all American products Friday, April 4, — on top of other tariffs it imposed earlier this year — all of those products will be significantly more expensive in China.
Many worry that these new tariffs might put many farmers out of business, including the young farmers. Farmers endured Trump’s previous trade war with China during his first term. But this time, Trump’s tariffs extend around the globe, so China likely won’t be the last country to retaliate with tariffs of its own.
