China's countermeasures have left American agricultural producers in despair! Exporters lament that orders from the U.S. will all be taken over by countries like Brazil! According to a report on April 5 by the Singapore Lianhe Zaobao, foreign media reported that China's latest tariffs on U.S. goods imported into China will accelerate Beijing's shift to alternative sources such as Brazilian agricultural merchants.
As soon as China's countermeasures were implemented, soybean futures at the Chicago Mercantile Exchange fell by 3.43%. Now, American agricultural exporters are feeling disheartened. Depressed American agricultural merchants said that China's countermeasures will completely eliminate any possibility of importing American agricultural products. We are uncertain whether any imports can withstand a 34% tariff, while Brazilian agricultural merchants benefit and will make substantial profits. China will allocate more orders to countries like Brazil.
Clearly, once we took action, American agricultural exporters felt immense pressure. This means that as soon as such tariffs take effect, American agricultural products will lose their market competitiveness due to the tariffs, and American agricultural exporters will watch other countries make big money, leaving them with no opportunity even to "have soup." Of course, this pressure will inevitably lead to surplus agricultural products in the U.S., harming the interests of agricultural workers domestically.
China's countermeasures are one aspect; in fact, what makes American agricultural workers feel even worse is that the EU is also considering increasing tariffs on American agricultural products such as soybeans. If the EU follows our example for countermeasures, American agricultural workers' lives will become even harder. But this is not our fault; the plight of American agricultural workers can only be blamed on Trump's very wrong tariff policy. Undoubtedly, America's tariffs are also exacting a huge cost on itself.
Source: https://www.toutiao.com/article/1828540697229578/
Disclaimer: The article solely represents the views of the author.