Iowa Center for Public Affairs Journalism (https://caucus.iowawatch.org/tag/china-trade/)
As President Donald Trump continues to wage a multi-front trade war with some of the United States’ biggest economic partners, farmers have borne some of the heaviest financial burden. More than a third of the country’s trade disputes relate to agriculture, an analysis of disputes submitted to the World Trade Organization showed.
Argentina and Brazil may fill China’s soybean needs if China imposes a 25 percent tariff on U.S. soybean exports. Chad Hart, an agriculture economist at Iowa State University, said the impact depends on what happens during negotiations. IOWA NOTE: China is the second-largest market for Iowa exports ($2.3 billion in 2016 – $1.8 billion of it oilseeds and grains), behind Canada ($3.4 billion in 2016). “It is so hard to say, ‘This is what is going to happen.’ There are so many other moving parts,” he said. “This is a disagreement between the U.S. and China, but it has ramifications for Argentina and Brazil.”
Earlier this month, the United States and China both announced taxes on billions of dollars worth of imported goods — China is seeking tariffs on $50 billion worth of U.S. products that include soybeans and pork, while the U.S. announced taxes on $150 billion worth of 1,300 Chinese products, including electronics.
Iowa Gov. Terry Branstad will step down in 2017 to become the U.S. Ambassador to China after President-elect Donald Trump’s nomination of him to the post is confirmed. This IowaWatch Connection podcast report looks at that career that made Branstad the longest-serving governor in American history.
Iowa, and in particular, Gov. Terry Branstad, have built significant economic and diplomatic relationships with China since the 1980s. Learn more in this news quiz about Iowa-Chinese relations.