Flipity-Flopity (As Predicted, the V.S.G. Caves)
U.S. SUSPENDS TARIFFS ON CHINA, STOKING FEARS OF A LOSS OF LEVERAGE
The administration has suspended its plan to impose sweeping tariffs on China and trade experts warned that could undercut the administration’s leverage and thrust the United States back into lengthy, and ultimately fruitless, negotiations with China.
Orders for nearly 1 million tons of U.S. soybean exports were canceled last week, according to government data released on Friday, as cheap supplies from Brazil and trade tensions with China made U.S. cargoes less attractive to buyers.
China already signed a free trade deal with Australia, which is fulfilling their demand for beef and dairy, at a cost to U.S. farmers, and China already signed contracts with Brazil, which competes with U.S. farmers for soybeans, while Brazil (whose growing season is opposite the U.S.), is adding additional acreage of soy specifically for export.