So much for the “Art of the Deal.”
Courtesy of NYT:
Farmers here in Cass County have prospered over the last two decades by growing more soybeans than any other county in the United States, and by shipping most of those beans across the Pacific Ocean to feed Chinese pigs and chickens.
But this year, the Chinese have all but stopped buying. The largest market for one of America’s largest exports has shut its doors. The Chinese government imposed a tariff on American soybeans in response to the Trump administration’s tariffs on Chinese goods. The latest federal data, through mid-October, shows American soybean sales to China have declined by 94 percent from last year’s harvest.
Mr. Karel, the general manager of the Arthur Companies, which operates six-grain elevators in eastern North Dakota, has started to pile one million bushels of soybeans on a clear patch of ground behind some of his grain silos. The big mound of yellowish-white beans, already one of the taller hills in this flat part of the world, will then be covered with tarps.
The hope is that prices will rise before the beans rot.
“We’re sitting on the edge of our seat,” Mr. Karel said.
President Trump sees tariffs as a tool to force changes in America’s economic relationships with China and other major trading partners. His tough approach, he says, will revive American industries like steel and auto manufacturing that have lost ground to foreign rivals. But that is coming at a steep cost for some industries, like farming, that have thrived in the era of globalization by exporting goods to foreign markets.
China and other trading partners hit with the tariffs, including the European Union, have sought to maximize the political impact of their reprisals. The European Union imposed tariffs on bourbon, produced in Kentucky, the home state of the Senate majority leader, Mitch McConnell, and on Harley-Davidson motorcycles, from Wisconsin, the home state of House Speaker Paul Ryan. China’s decision to impose tariffs on soybeans squeezes some of Mr. Trump’s staunchest supporters across the Midwestern farm belt.
Donald Trump does not understand the world economy because, despite being a “business tycoon,” he has never actually participated in the world economy honestly.
Donald Trump is a fraud, who has lied, cheated, and bullied his way into and out of business deals his entire life.
Trump approaches making a deal the same way that a mafiosos might negotiate the buying of a restaurant that he likes, he makes thinly veiled threats, and if that fails he burns the place down.
Donald Trump would gladly burn down the world economy if it meant that he did not have to compromise, and he could care less who gets torched while he does it.
Simply put he needs to be stopped.