Trump Trade War Triggering $1.9 Billion Plunge In Farm Exports

F

floridafan

Verified User
American farm exports are expected to plunge $1.9 billion in fiscal 2019, compared to the previous year, largely due to President Donald Trump’s trade war with China, according to the U.S. Department of Agriculture.

Soybean exports have been hit particularly hard, the agency’s chief economist, Robert Johansson, told the USDA Outlook Forum in Washington on Thursday, Reuters reported. Because of the trade dispute, soybean exports to China will have “plummeted by 22 million [metric] tons, or over 90 percent” through this month, Johansson said.

China has dropped to the fifth largest market for American farm exports, Johansson noted. It was the top foreign purchaser in 2017. China is buying only about 6 percent of total U.S. exports, compared with nearly 18 percent in 2014.

The USDA estimates a net farm income of $66 billion for 2018, compared with $134 billion in 2013.

Early last year Trump admitted farmers would take a hit in the trade war, but he insisted that they would “understand.” These are “great patriots,” he added, referring to the farmers. “They understand that they’re doing this for the country.” The Farm Bureau, which represents the nation’s farmers, has spoken out against tariffs and the trade war. The administration has set aside $12 billion to bail out farmers hurt by the president’s trade war.
 
The farmers gained in the new agreement with Canada and Mexico. Even Schumer was pleased.

We are only 5 weeks in 2019. The US and China are close to a deal which will result in more farm exports to China.
Why don’t you wait until 2019 is over before you criticize.
Look what jumping the gun and making early judgements have done for you recently.

Are you in favor of the overwhelming uneven trade balance between China and US?
Appears you are an economics genius. Why not tell us the positive and negative effects of an uneven trade balance with other countries. Don’t make things up. Do some research and tell us.

If your going to talk only about farmers, you are being dishonest. The only occupation, the only goods and services is not farming. We are not just making a deal for farmers when we sit with Canada, Mexico and China and talk about trade. If you are going to dissect any deal and mention the negatives for one group you are dishonest. I can pull out a group that greatly benefits from favorable trade deals and play the same game.
 
I heard the same thing. China plans on importing MORE farm output.
What about the 'Cyber Theft'? Is THAT going to be the norm???
 
floridafan said:
American farm exports are expected to plunge $1.9 billion in fiscal 2019, compared to the previous year, largely due to President Donald Trump’s trade war with China, according to the U.S. Department of Agriculture.

Soybean exports have been hit particularly hard, the agency’s chief economist, Robert Johansson, told the USDA Outlook Forum in Washington on Thursday, Reuters reported. Because of the trade dispute, soybean exports to China will have “plummeted by 22 million [metric] tons, or over 90 percent” through this month, Johansson said.

China has dropped to the fifth largest market for American farm exports, Johansson noted. It was the top foreign purchaser in 2017. China is buying only about 6 percent of total U.S. exports, compared with nearly 18 percent in 2014.

The USDA estimates a net farm income of $66 billion for 2018, compared with $134 billion in 2013.

Early last year Trump admitted farmers would take a hit in the trade war, but he insisted that they would “understand.” These are “great patriots,” he added, referring to the farmers. “They understand that they’re doing this for the country.” The Farm Bureau, which represents the nation’s farmers, has spoken out against tariffs and the trade war. The administration has set aside $12 billion to bail out farmers hurt by the president’s trade war.
Click to expand...
How idiotic. They won't understand.

Sent from my SM-G550T1 using Tapatalk
 
Tkaffen said:
The farmers gained in the new agreement with Canada and Mexico. Even Schumer was pleased.

We are only 5 weeks in 2019. The US and China are close to a deal which will result in more farm exports to China.
Why don’t you wait until 2019 is over before you criticize.
Look what jumping the gun and making early judgements have done for you recently.

Are you in favor of the overwhelming uneven trade balance between China and US?
Appears you are an economics genius. Why not tell us the positive and negative effects of an uneven trade balance with other countries. Don’t make things up. Do some research and tell us.

If your going to talk only about farmers, you are being dishonest. The only occupation, the only goods and services is not farming. We are not just making a deal for farmers when we sit with Canada, Mexico and China and talk about trade. If you are going to dissect any deal and mention the negatives for one group you are dishonest. I can pull out a group that greatly benefits from favorable trade deals and play the same game.
Click to expand...

You really don't know what caused the imbalance do you? Try this. http://www.jiesworld.com/international_corporations_in_china.htm Our manufacturers moved to China for cheap unprotected workers and no environmental regulation. Our intellectual property was taken there.to be used. We spent a century developing and refining processes and technology that our corporations gave to China for short term profits. The country that manufctures is the country that develops the future technology.
 
Tkaffen said:
The farmers gained in the new agreement with Canada and Mexico. Even Schumer was pleased.

We are only 5 weeks in 2019. The US and China are close to a deal which will result in more farm exports to China.
Why don’t you wait until 2019 is over before you criticize.
Look what jumping the gun and making early judgements have done for you recently.

Are you in favor of the overwhelming uneven trade balance between China and US?
Appears you are an economics genius. Why not tell us the positive and negative effects of an uneven trade balance with other countries. Don’t make things up. Do some research and tell us.

If your going to talk only about farmers, you are being dishonest. The only occupation, the only goods and services is not farming. We are not just making a deal for farmers when we sit with Canada, Mexico and China and talk about trade. If you are going to dissect any deal and mention the negatives for one group you are dishonest. I can pull out a group that greatly benefits from favorable trade deals and play the same game.
Click to expand...
Clueless. In recent decades, we've traded manufacturing for Big Agra. Our factories are shuttered, and the Corn Belt reaps the rewards. Every trade deal entailed shipping our Ag. products around the world.

Hell...NAFTA killed Mexico's corn industry.

Now trump has killed the Soy/Wheat industry.

Don't think for one minute, that China is close to an agreement.
 
floridafan said:
American farm exports are expected to plunge $1.9 billion in fiscal 2019, compared to the previous year, largely due to President Donald Trump’s trade war with China, according to the U.S. Department of Agriculture.

Soybean exports have been hit particularly hard, the agency’s chief economist, Robert Johansson, told the USDA Outlook Forum in Washington on Thursday, Reuters reported. Because of the trade dispute, soybean exports to China will have “plummeted by 22 million [metric] tons, or over 90 percent” through this month, Johansson said.

China has dropped to the fifth largest market for American farm exports, Johansson noted. It was the top foreign purchaser in 2017. China is buying only about 6 percent of total U.S. exports, compared with nearly 18 percent in 2014.

The USDA estimates a net farm income of $66 billion for 2018, compared with $134 billion in 2013.

Early last year Trump admitted farmers would take a hit in the trade war, but he insisted that they would “understand.” These are “great patriots,” he added, referring to the farmers. “They understand that they’re doing this for the country.” The Farm Bureau, which represents the nation’s farmers, has spoken out against tariffs and the trade war. The administration has set aside $12 billion to bail out farmers hurt by the president’s trade war.
Click to expand...

show me a link.....I want to see what reporter is stupid enough to make this claim.....there is no way to make an accurate prediction of the 2019 crop without knowing next fall's production from crops that haven't even been planted yet.......
 
Last edited:
Tkaffen said:
The farmers gained in the new agreement with Canada and Mexico. Even Schumer was pleased.

We are only 5 weeks in 2019. The US and China are close to a deal which will result in more farm exports to China.
Why don’t you wait until 2019 is over before you criticize.
Look what jumping the gun and making early judgements have done for you recently.

Are you in favor of the overwhelming uneven trade balance between China and US?
Appears you are an economics genius. Why not tell us the positive and negative effects of an uneven trade balance with other countries. Don’t make things up. Do some research and tell us.

If your going to talk only about farmers, you are being dishonest. The only occupation, the only goods and services is not farming. We are not just making a deal for farmers when we sit with Canada, Mexico and China and talk about trade. If you are going to dissect any deal and mention the negatives for one group you are dishonest. I can pull out a group that greatly benefits from favorable trade deals and play the same game.
Click to expand...


you aqre embarrassing yourself when you defend trump. "As of last Thursday, only 7.4 million tonnes of the most recent U.S. soybean harvest had been sold to China, well short of the 26 million in purchases at the same point last year, according to the latest USDA export sales data." https://www.reuters.com/article/usa...y-in-white-house-meeting-perdue-idUSL1N20H1RJ 12 billion in payments to farmers so trump can pander to morons means there is no need to wait for anything.
 
you continue to assume that US exports of soybeans to China equals US agricultural exports.......as my link showed, US agricultural exports including US soybean exports are higher than previous years......
 
Nordick,
Were you in the same economics class with Ocasio Cortez.
The main cause of the trade deficit is the American public. When you go to the adult book store to purchase your blow up doll you will see a doll made in America that cost much higher than the one made in China.
The American company can’t sell their product because they are competing with a company that can produce the product much cheaper. The American company can go out of business or move where they can compete.
Lesson: BUY AMERICAN

America is not on a level playing field with other countries. The expenses for American companies are much higher than for Chinese companies. Do the math when expenses such as labor, cost American companies union wages of let’s say $30.00 an hour how do they compete with a Chinese company when expenses such as labor cost are let’s say $10.00 an hour. Of course the American Company will move somewhere else if they want to stay in business. Trade deficits are killing the manufacturing sector. The trade deficit with China cost 3.4 million jobs between 2001 to 2015. During that time the trade deficit rose from 83 billion to 367.2 billion.
The loser in a high trade deficit are the small to midsize manufacturing companies and the taxpayers that have to pay the debt. How much debt can we finance?
Without manufacturing we will not be able to maintain a strategy of innovation since 70% of R&D come from manufacturing.

Tariff’s are a way to protect certain industries from foreign competition. All presidents (including your Fuck buddy Obama) has initiated tariffs. Sometimes the actions turn out good, sometime not so good as in Obama’s case.

Economist are split as to whether the high trade deficit is good or bad. Economist are like scientist, they are never wrong. A possible benefit to a negative trade deficit is that it could raise a country’s standard of living however a negative trade deficit could cause more outsourcing of jobs. Currently you are not seeing that because jobs are now plentiful and with the lower corporate tax rates and tax compromises (like Amazon) more companies are staying in the US.
A negative trade deficit may have consequences that affect economic growth. Right now we are not seeing that because of the strong job market.

Right now we have a negative balance of trade with China. The trade balance is $566 billion in favor of China. More than 70% of the trade deficit is in manufactured goods, not services.
Trade deficits arise because of factors including domestic economic conditions, standards of living, consumption and purchasing compared with savings rates, the price of goods on the market, exchange rates, taxation, and regulation.

This is what concerns me about high trade deficits. Trade deficits is a debt that must be paid back. Trade deficits must be financed and we finance our trade deficit by borrowing from our trading partners. We borrow money from our trading partners to finance our trade deficit so that we can buy more of their exports. The trade deficit debt must be paid back and this will be harder with growing federal deficits.
China is the largest lender to the US government. This gives China political leverage over US fiscal policy. What happens if China starts to sell it’s Treasury holdings?
I doubt it will happen, but what if China decides not to loan us any more money and cash in their US securities.
China also sets the value of it’s currency. It pegs its currency to the dollar using a modified fixed exchange rate.

Trumps demands include allowing American companies greater access to the China market and dropping it’s requirement that American companies hand over valuable technology (are you ashamed that you and Trump agree).

I told you to do some research. You didn’t and now you look like a fool.
 
I don’t know what that means, “we’ve traded manufacturing for Big Agra.”.
We didn’t trade anything. Manufacturing left so they could compete and it’s your fault. You should have spent the extra dollars and purchased American products. I don’t know if you know, but farms can’t move overseas. Farmers get subsidies from the federal government.

Trump hasn’t killed anything. Re-post next year. It’s too early to tell.
The federal government has been providing subsidies to farms since the 30’s.
Currently the federal government provides subsidies in which they spend more than 20 billion a year in subsidies to 39% of the 2.1 million farms, mostly the larger farms that product corn, soybeans, wheat and cotton.

There were pros and cons to NAFTA. One of the negatives is that it put Mexican farmers out of business. It allowed US government subsidized farm products into Mexico. Mexican farms could not compete with the subsidized US farm products. (1.3 million farms were put out of business according to the Economic Policy Institute). These unemployed Mexican farmers went to work in substandard conditions in the maquiladora program.

There are also pros and cons to the new agreement. It may break your heart but there are always losers and winners. You can’t please everyone. In the new deal dairy farmers were the winners. The Canadian dairy sector operated under a supply management system that created a stable market for Canadian dairy producers. The new agreement allows US dairy farms access to Canada markets.

Don’t you think for a minute that China and US are not close to a deal. Both parties have negotiating arguments but I believe the US has the advantage.
First of all, China wants to sell product and the US is the largest purchaser.
Secondly, China has more goods to be taxed (initiate tariffs) than US goods exported to China.
Additionally, China’s economy is slowing.
 
FATFEN, you are wrong as usual. I gave you the facts about our manufacturing base moving abroad for cheap unprotected labor and no environmental regulation, for short term profits. That is a huge factor in the balance of trade. We sell it back to America. Can you see where the money goes? Lets see, if we made it here and sold it here and abroad , what would that do to balance of trade. Spend some time thinking about it. We are not buying Chinese goods, but American goods made in China.
That is what made China an international power in manufacturing and banking.
It is also long term thinking because as China becomes richer, they become the worlds market place. Our corporation give no shrift to loyalty or care about the US. Just money and profit.
Yopu actually show ignorance and are proud of it.
We have the power to lower our debt. We just choose not to do it.
We have found that there is no evidence of China manipulating the currency as daffy claimed in the debates.
 
Tkaffen said:
Nordick,
Were you in the same economics class with Ocasio Cortez.
The main cause of the trade deficit is the American public. When you go to the adult book store to purchase your blow up doll you will see a doll made in America that cost much higher than the one made in China.
The American company can’t sell their product because they are competing with a company that can produce the product much cheaper. The American company can go out of business or move where they can compete.
Lesson: BUY AMERICAN

America is not on a level playing field with other countries. The expenses for American companies are much higher than for Chinese companies. Do the math when expenses such as labor, cost American companies union wages of let’s say $30.00 an hour how do they compete with a Chinese company when expenses such as labor cost are let’s say $10.00 an hour. Of course the American Company will move somewhere else if they want to stay in business. Trade deficits are killing the manufacturing sector. The trade deficit with China cost 3.4 million jobs between 2001 to 2015. During that time the trade deficit rose from 83 billion to 367.2 billion.
The loser in a high trade deficit are the small to midsize manufacturing companies and the taxpayers that have to pay the debt. How much debt can we finance?
Without manufacturing we will not be able to maintain a strategy of innovation since 70% of R&D come from manufacturing.

Tariff’s are a way to protect certain industries from foreign competition. All presidents (including your Fuck buddy Obama) has initiated tariffs. Sometimes the actions turn out good, sometime not so good as in Obama’s case.

Economist are split as to whether the high trade deficit is good or bad. Economist are like scientist, they are never wrong. A possible benefit to a negative trade deficit is that it could raise a country’s standard of living however a negative trade deficit could cause more outsourcing of jobs. Currently you are not seeing that because jobs are now plentiful and with the lower corporate tax rates and tax compromises (like Amazon) more companies are staying in the US.
A negative trade deficit may have consequences that affect economic growth. Right now we are not seeing that because of the strong job market.

Right now we have a negative balance of trade with China. The trade balance is $566 billion in favor of China. More than 70% of the trade deficit is in manufactured goods, not services.
Trade deficits arise because of factors including domestic economic conditions, standards of living, consumption and purchasing compared with savings rates, the price of goods on the market, exchange rates, taxation, and regulation.

This is what concerns me about high trade deficits. Trade deficits is a debt that must be paid back. Trade deficits must be financed and we finance our trade deficit by borrowing from our trading partners. We borrow money from our trading partners to finance our trade deficit so that we can buy more of their exports. The trade deficit debt must be paid back and this will be harder with growing federal deficits.
China is the largest lender to the US government. This gives China political leverage over US fiscal policy. What happens if China starts to sell it’s Treasury holdings?
I doubt it will happen, but what if China decides not to loan us any more money and cash in their US securities.
China also sets the value of it’s currency. It pegs its currency to the dollar using a modified fixed exchange rate.

Trumps demands include allowing American companies greater access to the China market and dropping it’s requirement that American companies hand over valuable technology (are you ashamed that you and Trump agree).

I told you to do some research. You didn’t and now you look like a fool.
Click to expand...

How much of the trade deficit is due to the Chinese refusing to buy American farm goods?
 
Yes currently, the farmers that grow soybeans are hurting. They are relying on corn for cash flow and will store their soybeans.

Don’t you realize that someone will always get hurt. Do you live in a fantasy world?
You criticize and blame Trump but are silent about manufacturing and the jobs lost. You like to complain about the cost of a wall but silent on the huge tax burden a negative trade deficit causes.

You are so stupid to focus in on one aspect of the tariffs. It’s much more complicated than your pea brain head can take in. There are hundreds of factors that affect the economy and markets. There are hundreds of factors to consider when dealing with foreign trade.

I didn’t see anything about 12 billion to farmers in your article. However, it is not surprising.
Dumb dumb, the government, your tax dollars pay farmers 20 billion a year in subsidies.
They have had subsidy programs in place since the 30’s.
 
I don't know.

I do know that their was a reduction in China exports that may have had an affect on the trade deficit. However, our imports to China may have been reduced as well which also have an affect.
We will have to wait and see. The next few weeks will tell.
if negotiations with China are favorable I'm sure the March 1, 2019 deadline will be extended.
It will be months before we know the true economic impact the trade wars have had to both China and US.
 
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