Trade’s POWs – Ronnie Russel

Wars have casualties and in international trade wars those casualties can stretch from farms to tables. Everyone seems to agree that China is a trading problem.  What everyone doesn’t agree on is what to do about it.  The US was close to joining 11 other countries in a Trans Pacific trade agreement that was hoped to bring China in line with acceptable trade policies, however the administration backed away.  The policy being pursued now has the US raising tariffs on Chinese imports and the Chinese retaliating by putting duties on American products or simply cutting way back on their imports from the US. There still may be a breakthrough and satisfactory agreements reached, but in the meantime the economic pain is all too real.  Some are estimating that the trade war with China could cost the average family $1,000 per year in increased cost of goods.  Soybean farmers in particular have been bearing the brunt of the trade war and have experienced price declines and poor prospects to the point that their future is in jeopardy. For a farm level perspective on the impacts of the trade war strategy, Farm To Table Talk visits with Ronnie Russel. Ronnie is a soybean farmer and officer in the Missouri and American Soybean Association.

Leave a Reply

Your email address will not be published. Required fields are marked *