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China's purchases of US soybeans now at $0

Visbek

Visbek

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NYT Article:
www.nytimes.com

China Bought $12.6 Billion in U.S. Soybeans Last Year. Now, It’s $0.

China stopped buying soybeans from America in May, placing a retaliatory tariff on the bumper crop after President Trump increased levies on goods from China.
www.nytimes.com www.nytimes.com

Yep, China is retaliating against US tariffs by... wait for it... establishing retaliatory tariffs on US soybeans stiff enough to deter all purchases. Last year, China bought around $12 billion in soybeans, now it's down to $0.

Hilariously, Brooke Rollins (Agriculture Secretary) said the US doesn't have a relief plan for farmers; even if they did, it'd probably be blocked by the shutdown. She also claimed the US will try to find other international buyers... which is utterly hilarious, since the US is waging a trade war on almost every country, and acting like it doesn't need anything from anyone. :LOL:

Yes, I'm one of those people who knows enough about international trade to appreciate the utter absurdity of the situation. No one should have been surprised that China would retaliate this way, especially since this is exactly what they did in 2018. No one should be surprised that one of the consequences of protectionism is that "what's good for the goose is good for the gander," and when you start attacking your trading partners, they're going to stop buying your exports.

Topping it all off is that while US farmers get shafted, the US is sending $20 billion in aid to Argentina... which is now selling soybeans to China. The only thing more absurd than this turn of events is how the administration thinks it can avoid being blamed for its massive screw-ups that are damaging US interests and economy.
 
Visbek said:
NYT Article:
www.nytimes.com

China Bought $12.6 Billion in U.S. Soybeans Last Year. Now, It’s $0.

China stopped buying soybeans from America in May, placing a retaliatory tariff on the bumper crop after President Trump increased levies on goods from China.
www.nytimes.com www.nytimes.com

Yep, China is retaliating against US tariffs by... wait for it... establishing retaliatory tariffs on US soybeans stiff enough to deter all purchases. Last year, China bought around $12 billion in soybeans, now it's down to $0.

Hilariously, Brooke Rollins (Agriculture Secretary) said the US doesn't have a relief plan for farmers; even if they did, it'd probably be blocked by the shutdown. She also claimed the US will try to find other international buyers... which is utterly hilarious, since the US is waging a trade war on almost every country, and acting like it doesn't need anything from anyone. :LOL:

Yes, I'm one of those people who knows enough about international trade to appreciate the utter absurdity of the situation. No one should have been surprised that China would retaliate this way, especially since this is exactly what they did in 2018. No one should be surprised that one of the consequences of protectionism is that "what's good for the goose is good for the gander," and when you start attacking your trading partners, they're going to stop buying your exports.

Topping it all off is that while US farmers get shafted, the US is sending $20 billion in aid to Argentina... which is now selling soybeans to China. The only thing more absurd than this turn of events is how the administration thinks it can avoid being blamed for its massive screw-ups that are damaging US interests and economy.
Click to expand...
Ok, now explain how China has been charging the U.S. for doing business in and with China for years. High tariffs, and stolen patents, along with consistently buying less and less from us. The Chinese are trade partners but certainly not our friends. In fact that is true for many countries who have long charged us more for trading with them than we got in return. This is the result of poorly crafted trade deals by politicians who aren't good at their job.
 
Integrityrespec said:
Ok, now explain how China has been charging the U.S. for doing business in and with China for years. High tariffs, and stolen patents, along with consistently buying less and less from us. The Chinese are trade partners but certainly not our friends. In fact that is true for many countries who have long charged us more for trading with them than we got in return. This is the result of poorly crafted trade deals by politicians who aren't good at their job.
Click to expand...

Yeah. Republicans.
 
Integrityrespec said:
Ok, now explain how China has been charging the U.S. for doing business in and with China for years. High tariffs, and stolen patents, along with consistently buying less and less from us. The Chinese are trade partners but certainly not our friends. In fact that is true for many countries who have long charged us more for trading with them than we got in return. This is the result of poorly crafted trade deals by politicians who aren't good at their job.
Click to expand...
Correct, this is the result of poorly crafted deals by Trump. The deal was so bad that China would rather go someplace else to do business, and American farmers are going bankrupt because of it.
 
Visbek said:
NYT Article:
www.nytimes.com

China Bought $12.6 Billion in U.S. Soybeans Last Year. Now, It’s $0.

China stopped buying soybeans from America in May, placing a retaliatory tariff on the bumper crop after President Trump increased levies on goods from China.
www.nytimes.com www.nytimes.com

Yep, China is retaliating against US tariffs by... wait for it... establishing retaliatory tariffs on US soybeans stiff enough to deter all purchases. Last year, China bought around $12 billion in soybeans, now it's down to $0.

Hilariously, Brooke Rollins (Agriculture Secretary) said the US doesn't have a relief plan for farmers; even if they did, it'd probably be blocked by the shutdown. She also claimed the US will try to find other international buyers... which is utterly hilarious, since the US is waging a trade war on almost every country, and acting like it doesn't need anything from anyone. :LOL:

Yes, I'm one of those people who knows enough about international trade to appreciate the utter absurdity of the situation. No one should have been surprised that China would retaliate this way, especially since this is exactly what they did in 2018. No one should be surprised that one of the consequences of protectionism is that "what's good for the goose is good for the gander," and when you start attacking your trading partners, they're going to stop buying your exports.

Topping it all off is that while US farmers get shafted, the US is sending $20 billion in aid to Argentina... which is now selling soybeans to China. The only thing more absurd than this turn of events is how the administration thinks it can avoid being blamed for its massive screw-ups that are damaging US interests and economy.
Click to expand...
Thank Trump
 
Wow. Suddenly people care about soybeans. China can buy soybeans from whoever they want. If America has an overcapacity of farmland then it needs to downsize. If it don't happen now... it'll happen sooner or later. America got conned into thinking that it has to feed the world.
 
Integrityrespec said:
Ok, now explain how China has been charging the U.S. for doing business in and with China for years. High tariffs, and stolen patents, along with consistently buying less and less from us. The Chinese are trade partners but certainly not our friends. In fact that is true for many countries who have long charged us more for trading with them than we got in return. This is the result of poorly crafted trade deals by politicians who aren't good at their job.
Click to expand...
Yep, Trump sucks at making deals. Glad you finally came around.
 
Integrityrespec said:
Ok, now explain how China has been charging the U.S. for doing business in and with China for years. High tariffs, and stolen patents, along with consistently buying less and less from us. The Chinese are trade partners but certainly not our friends. In fact that is true for many countries who have long charged us more for trading with them than we got in return. This is the result of poorly crafted trade deals by politicians who aren't good at their job.
Click to expand...
And for all of the stuff you just wrote, the USA farmers just lost their major buyer thanks to the wonderful Trump. ANd now to keep the farmers in business, we will have to pay them for raising crops they cannot sell. Good job Trump.
 
It's not just soybeans, it's corn, wheat and cotton as well. Couple that with TACO cancelling farm loans and many farms are staring at bankruptcy. Huge mega corporate farms can weather a season or two (buying up bankrupt farms for a song) but loss of midsized farms throws another hit at rural America. TACO's cutting Medicare/aid/ACA funding will collapse rural healthcare.... :unsure:
The rural community voted for TACO, and this is how he repays them... ✌️
 
Integrityrespec said:
Ok, now explain how China has been charging the U.S. for doing business in and with China for years.
Click to expand...
What is China charging US businesses?

Integrityrespec said:
High tariffs, and stolen patents, along with consistently buying less and less from us.
Click to expand...
Chinese tariffs were not high. They bought $12.6b worth of soybeans last year. This is the point of discussion.

If China's problem with soybean production could be mitigated by stealing a patent...well...

Yes, they not only bought less soybeans, they bought not a single bean.

Integrityrespec said:
The Chinese are trade partners but certainly not our friends.
Click to expand...
Friendship costs extra.

Integrityrespec said:
In fact that is true for many countries who have long charged us more for trading with them than we got in return.
Click to expand...
What have countries charged us? What did we get in return?

Integrityrespec said:
This is the result of poorly crafted trade deals by politicians who aren't good at their job.
Click to expand...
Yeah, that USMCA. Who writes these things, anyway?
 
Integrityrespec said:
Ok, now explain how China has been charging the U.S. for doing business in and with China for years. High tariffs, and stolen patents, along with consistently buying less and less from us. The Chinese are trade partners but certainly not our friends. In fact that is true for many countries who have long charged us more for trading with them than we got in return. This is the result of poorly crafted trade deals by politicians who aren't good at their job.
Click to expand...
Ok, now explain how TACO's plan is going to change anything????
We are not the sole supplier of anything except MAGANUTS. Threatening the nation keeping our economy afloat is like taunting a lion without heavy bars between...
If MAGANUTS ever read history they'd see China is dealing with us the same way we dealt with England while our manufacturing base grew before WWI. As China's base builds they will be buying MORE raw materials and less consumer/durable goods. That is the same pattern we had with third world nations- took their raw materials and sent back consumer goods.
It is history bending back on us and biting us in the ass. High tariffs on Chinese goods will hurt them because we are gluttons for cheap consumer crap, but China has many other trading partners for raw materials and opening markets for consumer goods as the Chinese buy more from other nations.... ✌️
 
Visbek said:
NYT Article:
www.nytimes.com

China Bought $12.6 Billion in U.S. Soybeans Last Year. Now, It’s $0.

China stopped buying soybeans from America in May, placing a retaliatory tariff on the bumper crop after President Trump increased levies on goods from China.
www.nytimes.com www.nytimes.com

Yep, China is retaliating against US tariffs by... wait for it... establishing retaliatory tariffs on US soybeans stiff enough to deter all purchases. Last year, China bought around $12 billion in soybeans, now it's down to $0.

Hilariously, Brooke Rollins (Agriculture Secretary) said the US doesn't have a relief plan for farmers; even if they did, it'd probably be blocked by the shutdown. She also claimed the US will try to find other international buyers... which is utterly hilarious, since the US is waging a trade war on almost every country, and acting like it doesn't need anything from anyone. :LOL:

Yes, I'm one of those people who knows enough about international trade to appreciate the utter absurdity of the situation. No one should have been surprised that China would retaliate this way, especially since this is exactly what they did in 2018. No one should be surprised that one of the consequences of protectionism is that "what's good for the goose is good for the gander," and when you start attacking your trading partners, they're going to stop buying your exports.

Topping it all off is that while US farmers get shafted, the US is sending $20 billion in aid to Argentina... which is now selling soybeans to China. The only thing more absurd than this turn of events is how the administration thinks it can avoid being blamed for its massive screw-ups that are damaging US interests and economy.
Click to expand...


Trump sure showed them!


Go tariffs, go!
 
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