g5000
Diamond Member
- Nov 26, 2011
- 131,480
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Prior to "Liberation "Day", I said on this forum that Trump's new tariff war would hurt farmers the most. I knew this because they were the ones hurt the most by Trump's first far left protectionism.
During Trump 1.0's tariff war, which was much milder than this one, his far left protectionist tariffs cost Americans $34 billion a year, eliminated 300,000 jobs, and cost taxpayers $22 billion in rescue subsidies for farmers.
This one is already worse.
U.S. agriculture isn’t nearing a trade war tariff crisis, it’s in a ‘full-blown crisis already,’ farmers say
Data released by the U.S. Department of Agriculture on Thursday revealed China made its biggest cancellation of pork orders since 2020, halting a shipment of 12,000 tons of pork.
AgTC said “massive” financial losses are already being felt by its members as a result of the trade war, based on reports it is receiving from member companies.
A wood pulp and paperboard exporter reported to the trade group the immediate cancellation or hold of 6,400 metric tons in a warehouse and a hold of 15 railcars sitting in what is known in the supply chain as “demurrage,” when fees are charged for delayed movement of goods.
[snip]
McKenney cited retaliatory tariffs on U.S. agricultural products, as well as manufactured goods; both are essential exports that move through Oakland. Exports include almonds, beef, pork, dairy, and recycled materials, much of which is destined for Asia. China ranks as the port’s top import trading partner and third export partner, representing 29% of Oakland’s total trade volume.
[snip]
“So many local, union jobs depend on the Port’s robust shipping operations including dockworkers, truck operators, and warehouse workers,” said Rep. Lateefah Simon, D-Calif. “I support smart trade policies that uplift workers and lower costs for Oakland’s working families — not an illogical and retaliatory trade war.”
Agricultural exporters warned that there are no other markets that can quickly replace China’s demand and absorb the volume, and that is already affecting prices.
“We have diverted employees and production to other (less profitable) production and dramatically slowed down purchasing from independent venders (loggers, truckers, sawmills),” one lumber exporter reported to AgTC. Some products have already declined 20% in market value, the exporter reported, which it said will influence inventory planning and future investments.
During Trump 1.0's tariff war, which was much milder than this one, his far left protectionist tariffs cost Americans $34 billion a year, eliminated 300,000 jobs, and cost taxpayers $22 billion in rescue subsidies for farmers.
This one is already worse.
U.S. agriculture isn’t nearing a trade war tariff crisis, it’s in a ‘full-blown crisis already,’ farmers say
Data released by the U.S. Department of Agriculture on Thursday revealed China made its biggest cancellation of pork orders since 2020, halting a shipment of 12,000 tons of pork.
AgTC said “massive” financial losses are already being felt by its members as a result of the trade war, based on reports it is receiving from member companies.
A wood pulp and paperboard exporter reported to the trade group the immediate cancellation or hold of 6,400 metric tons in a warehouse and a hold of 15 railcars sitting in what is known in the supply chain as “demurrage,” when fees are charged for delayed movement of goods.
[snip]
McKenney cited retaliatory tariffs on U.S. agricultural products, as well as manufactured goods; both are essential exports that move through Oakland. Exports include almonds, beef, pork, dairy, and recycled materials, much of which is destined for Asia. China ranks as the port’s top import trading partner and third export partner, representing 29% of Oakland’s total trade volume.
[snip]
“So many local, union jobs depend on the Port’s robust shipping operations including dockworkers, truck operators, and warehouse workers,” said Rep. Lateefah Simon, D-Calif. “I support smart trade policies that uplift workers and lower costs for Oakland’s working families — not an illogical and retaliatory trade war.”
Agricultural exporters warned that there are no other markets that can quickly replace China’s demand and absorb the volume, and that is already affecting prices.
“We have diverted employees and production to other (less profitable) production and dramatically slowed down purchasing from independent venders (loggers, truckers, sawmills),” one lumber exporter reported to AgTC. Some products have already declined 20% in market value, the exporter reported, which it said will influence inventory planning and future investments.
