The Winners and Losers of the U.S./China trade war
Soybeans have taken center stage in the ongoing trade war between the U.S. and China, but the retaliatory tariffs have had far reaching implications. They have sent ripple effects through global economies.
During this week’s World Ag Expo, an economist discussed the winners and losers of the trade war.
According to Dr. Steven Devadoss, “Because of these Chinese tariffs, Brazil benefits quite a bit because Brazil produces quite a bit of soybeans and it can export its soybeans to China and displace some of the United States exports. On the other end, Canada is hurt because the United States captured some of the export markets where Canada was selling its soybeans.”
He says that the trade war increased crushing in the United States , but cost produces about $4.5 billion dollars during the height of the trade war.