It’s Not a Trade War
As we renegotiate the North Atlantic Free Trade Agreement (NAFTA) and redefine our relationship with China, many of the national and local headlines have warned Americans the United States is headed for a trade war.
After China put forth a list of potential tariffs on American pork, soybeans, corn and beef, President Trump responded aggressively by threatening to add an additional $100 billion on Chinese goods to his initially proposed threat of $50 billion.
Farmers in Minnesota and across the nation have raised the red flag – and for good reason. The tariffs on soybeans and pork in particular would add to an already highly stressful line of work, one in which there is quite a bit of anxiety due to low commodity prices and reliance on factors outside their control.
The President’s aggressive tone is unsettling, but let’s take a look at what’s happened just in the past few days.