Senator John Thune went on WNAX yesterday to admit that the Trump tariffs are impacting our economy, but he asserted that Trump’s trade team assure him that the tariffs are getting China’s attention.
They sure are: seeing their July soybean nicey-nice go for naught, the Chinese say they’re done buying American agricultural products:
A spokesperson for the Chinese Ministry of Commerce said Chinese companies have stopped purchasing U.S. agricultural products in response to President Trump’s new 10% tariffs on $300 billion of Chinese goods.
…China is one of the largest buyers of U.S. agriculture. Bloomberg News reported that Beijing may stop importing them completely in response to new tariffs by the United States. According to reports by Chinese State media, it would also consider slapping tariffs on U.S. agricultural products that it already bought [Kate Rooney, “China Confirms It Is Suspending Agricultural Product Purchases in Response to Trump’s New Tariffs,” CNBC, 2019.08.05].
Senator Thune is having town hall meetings with his “most trusted advisers” during the August recess. Maybe he’ll listen to us advisors and sponsor legislation to end the tariffs and their detrimental impact on South Dakota and reopen global markets to South Dakota producers.
Congressman Dusty Johnson stopped in Miller yesterday to hear about “this year’s farming ups and downs.” Tell me again where the ups are in the trade war with China?
Senator Mike Rounds cheered the new beef deal with the European Union; at least he occasionally remembers the value of free trade.
But thank goodness for socialism: the USDA opened applications for the Market Facilitation Program Trumpwelfare checks for farmers yesterday.