by Axios | Updated on 12.5.18
The Nebraska Farm Bureau said this week that the tariffs triggered by President Trump's ongoing trade war have cost the state's agricultural sector more than $1 billion in revenue, specifically affecting soybeans, corn and pork, the Omaha World-Herald reports.
"To put a $1.2 billion loss into perspective, every person in the state of Nebraska would need to contribute $632 to cover that volume of lost dollars. That’s a significant hit to our state’s economy."
Jay Rempe, a Nebraska Farm Bureau senior economist, to the Omaha World-Herald
Why it matters: The effects of Trump's trade war with China on farmers have been an ongoing story over the last few months, especially regarding issues with the soybean market. Farmers have been forced to store mass quantities of their crops until prices improve after demand in China, the biggest market for American soybeans, has dropped nearly 90%.
Written by Axios
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Well...they overwhelmingly voted for him. Guess they need to start a healthy soy rich diet. Fortunately it will be cheap which is great because they’re broke.
China is a Kleptocracy. Theft and deception is institutionalized and incentivized. Without the theft of technology and manufacturing capacity from other nations, not to mention the hourly manipulation of their currency.... China would still be a Third World nation. Playing hardball with trade tariffs is the only way you’re going to get China to deal honestly.
I don't support a trade war. I do support trade reform with partners such as China, but only with fact-based evidence behind it. Trump's continual mantra about a trade deficit is misleading: a trade deficit is not inherently bad, and he rarely quotes the real numbers. If we're going to reform trade, then we should do it based on facts and policies that will work, not lies and exaggerations. I also think Trump's war against the WTO is pointless and destructive, and should be stopped. I think the intellectual property abuses that China engages in are bad for America, and I would support efforts to stop those. I don't think tariffs are the solution, but if that's the way to bring China to the table, then maybe they are a tool.
Trade war is not good and a no win. Here is what economist wrote and I agree A number of US-based firms have voiced concerns over supply chain disruptions from trade wars. Harley Davidson stated that it would be shifting production aimed at the EU market outside the US to avoid the additional tariff burden, exemplifying the unintended consequences of this approach.
Trade wars are easy to win. DJT Time to declare victory.
You voted for moron. You still support moron so deal with it!
It may cost us now but in the long run it will benefit our country.
So farmers like being F’ed up the ass by other countries! I sure do not it is bad enough when you go to any stores and read the country were thing are made China is the top and I am sure getting tired of that. We need to expand and pull away from China trash and start opening new doors.
Why should the country pay for 45 having an uninformed tantrum?
While we should be as self-sustaining as possible we shouldn’t let a good thing go to waste. China wants our soybeans and we want their cheap labor for making textiles and electronics. While I would prefer that China treats their workers better it only hurts us to tariff their goods because they’ll just tariff us back! Tariffs are de facto taxes for both US citizens and Chinese citizens and these trade wars must stop now.
Hurting the American people with these trade wars. He doesn’t know what he is doing
I would like to say I feel badly, NOT. You are the ones who voted for him so don’t cry to to us how bad it is. You made your bed know you lay in it. I don’t care if they loose their shirts. They still support the idiot. No empathy here. He’s your pile of shit! Live with it
You vote for a jackass, you get what you deserve. Sadly the rest of us have to get what you deserve as well.
We have been lacking in the trade war. It is about time someone stood up for us.
More winning! for the MAGAts. Better start finding a way to blame democrats, or they may catch on that republicans are screwing them. Again.
Still think we’re winning?
What good has came from it.
Give Our President a Chance to make this work. You Let Obama hurt Our country without any action, and very little complaint. President Trump was duly elected. Make the best of His Presidency.
Yes they should continue the trade war until all the idiots that voted for tromp realize what they did.
You voted for him, do your homework next time.