Trade

The Trump administration is preparing a new list of $300 billion worth of Chinese imports that would be hit with tariffs of up to 25%, after China retaliated Monday in the trade war between the world's two largest economies.

The prices of the things we buy, from floor lamps to canoes and bicycles, are slated to go up, literally overnight, as the Trump administration makes good on a promise to raise tariffs on $200 billion worth of imported Chinese products.

Abby Wendle / Harvest Public Media file photo

The ongoing effects of the trade war, severe weather and low crop prices have farmers reluctant to make big purchases like tractors, combines and planters. It was apparent in the U.S. Commerce Department’s new report, which shows farm equipment sales were down $900 million dollars over the first three months of 2019.

That’s the biggest decline in sales since 2016.

Joanthan Ahl / Harvest Public Media

In theory, closing off China’s soybean market due to the trade dispute with the U.S. on top of generally low prices for the commodity should affect all industry players, big to small. Agriculture economist Pat Westhoff begged to differ.

Grant Gerlock / Harvest Public Media

The U.S. trade war with China has created a financial burden for farmers and companies that import Chinese goods. Consumers, on the other hand, have mostly been spared from the conflict.

That could all change if this month’s negotiations between the U.S. and China don’t go well.

Israel Palacio / Unsplash

The U.S. trade war with China, now approaching a year, is often framed as hurting manufacturing and agriculture the most. But that’s mainly collateral damage in an international struggle over power and technology that has its roots in the Cold War, when China was still considered a largely undeveloped country.

Food banks stand to benefit from the USDA's trade relief program.
Erica Hunzinger / Harvest Public Media file photo

On top of a second round of payments to farmers as part of the U.S. Department of Agriculture’s trade relief program, the agency is trying to ease the impact by purchasing surplus food and distributing it to food banks and other hunger relief groups.

Updated at 8:25 a.m. ET

President Trump, Canadian Prime Minister Justin Trudeau and Mexican President Enrique Peña Nieto signed the new U.S. Mexico Canada Agreement — or USMCA — in Buenos Aires Friday, using the backdrop of the G-20 Summit to resolve a trade dispute between America and its closest neighbors.

Amy Mayer/Valdemar Fishmen / Harvest Public Media/Creative Commons

Farmers and agriculture groups are digging through the details of the new North American trade deal, called the United States Canada Mexico Agreement, and some are raising concerns that clash with the celebratory mood of the three countries’ leaders.

Soybeans are piled up at a Nebraska grain elevator.
Grant Gerlock / Harvest Public Media file photo

Prices for crops like corn and soybeans have declined as the U.S. has sparred with top trading partners, but exports of those crops have not plummeted the way many observers had feared.

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