CHINA RETALIATES TO TRUMP TARIFFS, CANCELS 12,000-METRIC-TON ODER OF AMERICAN PORK
It can be a little challenging navigating the truth about what tariffs really mean when there’s so much posturing and misinformation getting spewed about. And that spewing is local in the U.S. like Old Faithful the geyser. Will prices go up? Sure. But no? Will this hurt American consumers? Not at all. But there might be a little pain for a while. Back here in economic reality, tariffs do raise prices, and they do hurt consumers. But they also hurt producers like pig farmers. And seeing how China cancelled a 12,000-metric-ton order of pork from the U.S is gonna hurt.
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UNTIL NOW, CHINA WAS AMERICA’S 3RD LARGEST BUYER OF PORK, BUT THAT’S CLEARLY OVER
So how did we get here? Aside from misinformation spinning, of course. Because Trump decided to go to war with the world, essentially to get foreign leaders to kiss his ass and make him look strong. But China isn’t playing around, and they’re being really strategic with their tariffs in response. Trump hits China with a 145% tariff on imports? Ok, China says, and responds with a tariff on American imports of 125%. In total, pork from the U.S. now faces a tariff of 172%. And since China is, or was America’s 3rd largest buyer of pork, this is a scary sign of where things are going.
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CHINA COULD LOOK TO SPAIN AND OTHER COUNTRIES TO BRING HOME THEIR BACON
It look like no matter what happens in the near future, things will be bleak for a lot of American producers, pork farmers especially. Because what was $1.1 billion in pork sales to China may never be that again. So China is already wooing new suppliers of their pork and other things, having just signed new agricultural deals with Spain. And there will be other new deals that will be a loss for the U.S. And let’s not forget that most pork producing American states are Red, Republican states. China is using Knight takes Queen as Trump can’t even get a Crown trying to play Checkers.
By the way, 12,000-metric-tons is equal to 26,455,471 pounds! In regular tons, that’s over 13,000,000! That’s a lot of bacon…
