Input | Output |
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Link | YouTube |
Published | 2019/08/08 |
Theme | |
Status | article incomplete |
Beau says:
American farmers hit hard by China's halt in agricultural purchases, facing long-lasting consequences; trade war effects extend beyond economy to impact jobs and businesses.
American citizens, farmers, policymakers
The full transcript provides detailed insights into the economic consequences of the trade war on American farmers and businesses. Viewing the complete video can offer a comprehensive understanding of the situation.
#TradeWar #Agriculture #Economy #AmericanFarmers #ChinaTrade #PolicyImpact
Well, howdy there, internet people, it's Beau again.
So today, we're going to talk about the American pharma
and how they've got to be looking around right now.
It's saying that, well, it's getting
curiouser and curiouser.
So the trade war has been kind of overshadowed
by recent events.
But China is our third, fourth, or fifth largest
market for farm goods, depending on which economist you talk to.
They have said that they're going to no longer buy agricultural products.
That's huge.
How huge?
In 2017, before the tariffs took effect, they bought $19.5 billion worth.
2018, 9.2, a loss of $10 billion that was going to the American farmer.
Now that number is zero.
Now that number is zero.
That's huge.
And it's going to have a long-lasting effect because food isn't like an iPad, you know?
If you go to buy an iPad and it costs a little bit more, you wait a month.
You've got to buy food.
So today, already, there are deals that are in effect now between Brazil and China for
soybeans.
China bought 60% of U.S. soybean exports.
And now those exports are gone.
And these deals, they're not like for a week, they're for a year.
So once this trade war is over, even if it ends next month, the effects are going to
be felt for a long time.
And even once the trade war is over, now it's not a matter of we already have a deal with
these people, the American farmer has to compete to get that business back.
Business they had, and now it's gone.
zero. 19.5 billion to zero. Yeah there are subsidies that are going to help the
farmers. The problem with that is most farmers don't really want subsidies. They
don't. That's not how they want to live their life. Banks don't like subsidies.
They don't like to lend because they don't know if you're gonna get it again.
That's not how they like to do business. They want to see the books which means
It's going to be hard to get loans, which means John Deere is going to get hit.
This is going to have a big effect on Trump, I think, in 2020.
Political analysts are like, well, you know, they have red hats.
They're stupid.
Yeah, well, they know what their pocketbook looks like, and I think that's going to have
a bigger impact than people are saying.
A state like Iowa, who goes blue a lot.
pointed by a pretty huge margin in 2016. Iowa is soybean country and they have
John Deere factories. They're gonna get hit hard by this. Hard. And the tariffs
are taking their toll in other places. I guess from the start of the trade war up
until June it was 27 billion dollars in extra costs that the American taxpayer
wind up paying.
Joanne Fabrics says if it goes on much longer, they're looking at store closings and job
eliminations.
The CEO of the American Textile Company said that as prices go up and demand decreases,
it is a fact American jobs will be lost.
Anyway, if it's just a fault, y'all have a good night.
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