Donald Trump’s trade war has done virtually nothing to benefit the American people.
Earlier this month, Trump increased tariffs on U.S. imports from China from 10% to 25%. These tariffs are paid by the American importers of the Chinese-made goods, with the cost being passed on to American consumers. China has responded by levying retaliatory tariffs on U.S. exports to China, making it more difficult or even impossible for American companies, farmers, etc. to export their goods to China.
The Trump trade war has already had a destructive effect on rural America, and recent actions by Trump are bound to only cause more suffering for America’s farmers. U.S. Representative Abby Finkenauer (D-IA) issued this response to the latest episode in the Trump trade war, which noted the decline in soybean prices caused by the Trump trade war:
The United States has traditionally been a net exporter of soybeans. However, as a result of Trump’s trade war, soybean prices are a lot lower than they were just a couple of years ago, meaning that America’s soybean farmers are losing money and are having trouble selling their crops.