Editorial: Trump's Tirade
OPINION: "We are back to where we were a year ago," according to a leading banking analyst in the UK, referring to US president Donald Trump's latest imposition of a global 10% tariff on all exports into the US.
Particularly China. For decades, Chinese demand underpinned the US Midwest economy, taking roughly a third of US grain production.
Then came the Trump trade wars.
The response by the US government will be to release billions of dollars in aid for the losses created by its own policies. China has pivoted fast, locking in long-term supply deals with Brazil and expanding its crushing and logistics capacity.
The result is a trade shift that will possibly be permanent.
American farmers voted overwhelmingly for Trump and its cold comfort to the Hound that they are now finding it’s hitting their bottom.
