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What’s the data on exports as well? Some stories of farmers taking massive hits with demand that was only fulfilled by global market.


Depends on the commodity and any reciprocal (actually reciprocal) tariffs that were imposed on US products.

Soybean farmers are hit hard because a lot of their crops went to China. Meanwhile some other exports are basically unaffected right now.

Other countries have generally not been so haphazard in application of tariffs. They don’t want to actively harm their citizens and they try to plan tariffs with more precision and consideration.


It's also worth noting that some of the damage will be permanent.

Trump's mini trade war with China in 2018 (for which he had to bail out farmers) led to US farmers permanently losing market share in soybean exports to Brazil.

> In 2018, during Trump's first term, the U.S. and China engaged in tit-for-tat tariffs that led Beijing to take permanent steps to reduce its reliance on American farm goods.

> The share of China's soybean imports from the United States dropped to 18% in the first 11 months of 2024, from 40% in the whole of 2016, while Brazil's share grew to 74% from 46%, according to Chinese customs data.

https://www.reuters.com/markets/commodities/chinese-buyers-s...




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