Trade

Amy Mayer / Harvest Public Media

On a hot September day, five Japanese men arrived at Rod Pierce’s central Iowa farm. They represented feed mills and livestock cooperatives, and were there to see the corn they may eventually buy. 

Pierce invited them to walk among his rows of corn, climb into the cab of an 8-head combine and poke their heads into one his empty grain storage bins. 

If you're caught in a trade war, it's good to be a farmer.

Lots of American companies have lost sales since the Trump administration and China embarked on the current cycle of tariff-raising and retaliation. Few, if any, have been compensated as handsomely as farmers.

JBS Accounts For A Quarter Of Pork Bought By The Federal Government To Offset Trade Losses

Jul 10, 2019
Amy Mayer / Harvest Public Media

A Brazilian-owned meat processing company undercut its competition by more than $1 per pound to win nearly $78 million in pork contracts through a federal program launched to help American farmers offset the impact from an ongoing trade war.

As a result, JBS USA has won more than 26 percent of the $300 million the USDA has allocated to pork so far — more than any other company, according to an analysis of bid awards by the Midwest Center for Investigative Reporting.

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.

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