U.S. farmers lost one of their biggest customers this week after China officially cancelled all purchases of U.S. agricultural products, a retaliatory move following President Donald Trump’s pledge to slap 10% tariffs on $300 billion of Chinese imports.
China’s exit piles on to a devastating year for farmers, who have struggled through record flooding and an extreme heat wave that destroyed crop yields, and trade war escalations that have lowered prices and profits this year.
“It’s really, really getting bad out here,” said Bob Kuylen, who’s farmed for 35 years in North Dakota. “Trump is ruining our markets. No one is buying our product no more, and we have no markets no more.”
China’s purchases of US agricultural products had already dropped by more than half last year. Hit the link for much more.