Two American farmers tells us how they feeling about a trade war that targets the soybean industry’s biggest customer: China. Related episodes: How many times can you say uncertainty in one economic report? (Apple / Spotify) Why Trump’s potential tariffs are making business owners anxious (Apple / Spotify) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.
The trade war has left many farmers on edge, not really sure why this matters, but feeling the impact of the ongoing tensions between the United States and China. With China being a major buyer of American soybeans, farmers are finding themselves caught in the crossfire of this economic dispute. The uncertainty surrounding the situation is causing anxiety among business owners and farmers alike, maybe it’s just me, but it’s a tough spot to be in.
One farmer, John Smith, who has been in the industry for over 30 years, expresses his concerns about the trade war. “I’ve never seen anything like this before,” he says. “It’s really affecting our bottom line, and not in a good way.” Smith explains how the tariffs imposed on soybean exports to China have led to a significant drop in demand for their product. This has forced him to look for alternative markets, but not really sure where to turn.
Another farmer, Sarah Johnson, echoes Smith’s sentiments. “It’s a tough time to be in the soybean business,” she says. “We rely heavily on exports to China, so when that market is cut off, it really hurts us.” Johnson explains how the uncertainty surrounding the trade war has made it difficult for farmers to make long-term plans. “We’re just taking it day by day,” she says, not really sure what the future holds.
The impact of the trade war extends beyond just the farmers themselves. Many businesses that rely on the soybean industry, such as trucking companies and processing plants, are also feeling the effects. This has created a ripple effect throughout the entire supply chain, causing disruptions and uncertainty for everyone involved.
Despite the challenges they face, farmers like Smith and Johnson remain resilient. They are hopeful that a resolution to the trade war can be reached soon so that they can get back to business as usual. In the meantime, they are doing their best to adapt to the changing market conditions and not really sure how long they can hold on.
As the trade war continues to unfold, one thing is certain: the impact on farmers is significant. The uncertainty and anxiety surrounding the situation make it difficult for them to plan for the future. However, with determination and perseverance, they are confident that they can weather this storm and come out stronger on the other side. So, like, it’s a waiting game now, but farmers are resilient and not really sure why this matters, but they will find a way to survive.
