Weather.co
No Result
View All Result
  • Login
  • Forecast
  • Weather News
  • Analysis
  • Climate Change
  • Videos
77 °f
New York
80 ° Fri
79 ° Sat
77 ° Sun
76 ° Mon
SUBSCRIBE
Weather.co
  • Forecast
  • Weather News
  • Analysis
  • Climate Change
  • Videos
No Result
View All Result
Weather.co
No Result
View All Result
Home Farming

Trade war price tag: $27 billion in lost ag export sales

January 14, 2022
Reading Time: 1 min read
0 0
A A
0

According to a USDA report, China was responsible for 95% of the $27billion in U.S. farm export sales lost in 2018/2019 due to the Trump trade war. Sales to China rebounded after the “phase one” trade agreement, but U.S. market share has remained lower than before the tit-for-tat tariffs.

Six U.S. trade partners — Canada, China, the EU, India, Mexico, and Turkey — responded with retaliatory tariffs after the United States imposed duties on imported steel and aluminum and on China for its policies on intellectual property and technology transfer. The USDA’s Economic Research Service estimated total losses of farm exports at $27 billion over two years, or $13.2 billion a year.

“Across retaliatory partners, China accounted for approximately 95% of the losses — $25.7 billion,” said the ERS. Sales to the EU dropped by $600million and to Mexico by 500 million. Soybeans accounted for 71% of the decreases, followed closely by sorghum (6%) and pork (5%).

“At the state level, estimated losses were largely concentrated in the Midwest region,” said the report. Iowa lost $1.46 Billion a year, Illinois lost $1.41 Billion, and Kansas lost $955 M.

U.S. farm exports accounted for 20% of China’s agricultural imports in 2017, the last year before the trade war. The phase one agreement, signed early 2020, required China’s vastly increased purchases of U.S. foods and farm products. In fiscal 2021, sales reached a record $33.4 million “However, U.S. market share has not fully recovered to pre-retaliatory levels one year out from the phase one agreement signing,” said the ERS.

The report, “The Economic Impacts of Retaliatory Tariffs on U.S. Agriculture,” is available here.

Source: Successful Farming

ShareTweetShareShareShareSend

Related Posts

Farming

What is today’s news? | Wednesday, March 16, 2022

March 16, 2022
Farming

A farmers-to-table restaurant in the heart of the city

March 16, 2022
Farming

A flock of black swans is disrupting 2022

March 16, 2022
Farming

What is today’s news? | Tuesday, March 15, 2022

March 15, 2022
Farming

Avian influenza toll skyrockets to 7.65 million birds

March 15, 2022
Farming

Skyrocketing fertilizer prices gouge farmer profits; groups blame consolidation

March 15, 2022
London, GB
2:29 pm, Aug 19
75°F
L: 70° H: 79°
Feels like 74.71 °F broken clouds
Wind gusts: 10 mph
UV Index: 0
Precipitation: 0 inch
Visibility: 10 km
Sunrise: 5:52 am
Sunset: 8:16 pm
Humidity 45 %
Pressure1014 mb
Wind 10 mph

Recommended Stories

Storm Eta Update, Storm Theta, Storm Iota, Jamaica, Nicaragua, Panama – Video

January 13, 2022

How High Oil Prices Threaten a California Plastic Container Business

March 14, 2022

‘Heat Ages People’: As Temperatures Rise, Scientists Study How Humans React

June 13, 2022

Popular Stories

  • An end date to higher fertilizer prices is unknown, AFBF economists say

    0 shares
    Share 0 Tweet 0
  • How High Oil Prices Threaten a California Plastic Container Business

    0 shares
    Share 0 Tweet 0
  • Skyrocketing fertilizer prices gouge farmer profits; groups blame consolidation

    0 shares
    Share 0 Tweet 0
  • Ukraine monitors price increases for goods, planting challenges as war continues

    0 shares
    Share 0 Tweet 0
  • A Hotter World

    0 shares
    Share 0 Tweet 0
Weather.co

Weather.co, is a dedicated weather news website, we provide the latest news about weather and climate change from all around the world.

LEARN MORE »

Recent Posts

  • The New US Climate Law Will Reduce Carbon Emissions and Make Electricity Less Expensive, Economists Say
  • Brazil’s climate election: Lula and Bolsonaro vie over deforestation
  • A Natural Ecology Lab Along the Delaware River in the First State to Require K-12 Climate Education

Sections

  • Analysis
  • Climate Change
  • Coronavirus
  • Farming
  • News
  • Videos

The Latest Weather News From All Around The World

Be the first to know latest important news & events directly to your inbox.

By signing up, I agree to our TOS and Privacy Policy.

  • About
  • Privacy Policy
  • Terms and Conditions
  • Contact

© 2021 Weather.co - All rights reserved.

No Result
View All Result
  • Forecast
  • Weather News
  • Analysis
  • Climate Change
  • Videos

© 2021 Weather.co - All rights reserved.

Welcome Back!

OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
DON’T MISS OUT!
Subscribe To Newsletter
Be the first to get latest updates and exclusive content straight to your email inbox.
Stay Updated
Give it a try, you can unsubscribe anytime.
close-link
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.