Trade wars

....except for the soybean growers in North Dakota.


North Dakota soybean farmers, caught in the trade war, watch the season run out on their crop

But there is another problem facing farmers in the Sheyenne River Valley, 60 miles west of Fargo: They are snagged in the trade crossfire between Washington and Beijing.

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For the past decade, North American soybean production has exploded, driven by an intense demand from China. Peterson and other Great Plains farmers directly fed the overseas markets, harvesting more than 243 million bushels in North Dakota, at a price of $2.1 billion in the last market year. The majority of that crop fattened Chinese livestock.

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And now, thanks to tariffs, they're faced with the problem of storing all those unsold soybeans.

Peterson has about 25 percent of his crop under contract with a buyer and will store the rest. Many farmers in the region have begun dusting off old bins for storage. Others are hoping to build new storage facilities for the overflow, but steel and aluminum tariffs have driven up construction costs.

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“We’re getting hit by both sides of the equation here,” he said.

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Elections do have consequences.

Dittohead not! said:

....except for the soybean growers in North Dakota.

North Dakota soybean farmers, caught in the trade war, watch the season run out on their crop

And now, thanks to tariffs, they're faced with the problem of storing all those unsold soybeans.

Elections do have consequences.

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Some possible temporary solutions pending resolution of the "trade war" with China? :think:

The Federal government buys whatever can't be sold to China, and like wheat products, use the soybeans as part of economic aid to foreign nations rather than sending them money.

Or, conversely, underwrite storage costs until the soybeans can be sold at profit.

Or a combination of both. Whichever is cheaper. :shrug:

Captain Adverse said:

Some possible temporary solutions pending resolution of the "trade war" with China? :think:

The Federal government buys whatever can't be sold to China, and like wheat products, use the soybeans as part of economic aid to foreign nations rather than sending them money.

Or, conversely, underwrite storage costs until the soybeans can be sold at profit.

Or a combination of both. Whichever is cheaper. :shrug:

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Or do nothing and let the market handled it. Instead of creating welfare queens

Lord Tammerlain said:

Or do nothing and let the market handled it. Instead of creating welfare queens

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Free markets are often a casualty of trade wars.

Dittohead not! said:

Free markets are often a casualty of trade wars.

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not often but always!! In this case we are countering China's trade war against us in hope of getting to genuine 0 tarrif free trade like with Europe! Do you understand?


E.U. and U.S. Have Agreed to Work Toward 'Zero Tariffs' | Time
time.com › Politics › Foreign Policy
Jul 25, 2018 - President Donald Trump announced Wednesday that the U.S. and European Union have agreed to work toward 'zero tariffs.'
Trump and EU officials agree to work toward 'zero tariff' deal | US news ...
https://www.theguardian.com/us-news/.../trump-juncker-trade-war-eu-zero-tariff-deal
Jul 25, 2018 - Donald Trump and European Union officials on Wednesday stepped back from a trade war as they struck a deal to work towards “zero” tariffs, ...
Trump and top European leader agree to work toward zero tariffs ...
https://www.cnn.com/2018/07/25/politics/trump-juncker-tariffs-trade/index.html
Jul 26, 2018 - President Donald Trump said Wednesday that he and European Commission President Jean-Claude Juncker agreed to work toward ...