Prices that American Farms get for their product are dropping because the demand drops….
Donald Trump’s trade war is squeezing China….
American Farmer’s income….
Prices for U.S. agricultural exports plummeted 5.3% in July, driven primarily by a 14.1% decline in soybean prices, according to the Bureau of Labor Statistics.
Why it matters: In 2016, soybeans accounted for 12% of U.S. exports to China, prompting American farmers to ramp up their production. China is now attempting to curb its consumption of soybeans as part of its escalating trade war against the U.S., helping drive the largest single-month drop in farm export prices since October 2011….
Democratic Socialist Dave says
The San Francisco Chronicle reports that the trade war with China — combined with already-increasing environmental efforts within China — is also reducing the market for recycling, i.e. more reusuable waste headed for the landfill because there’s no other destination.
Among other things, China is imposing a 25% tariff on imported recycled paper.