Chinese soybean tariff would hit Iowa's economy hardest, new report says

[workinclasszero]

Donnelle Eller Published 2:58 p.m. ET May 13, 2018

China's proposed tariff on soybeans would hit Iowa's economy the hardest nationally, even though the state is not the largest U.S. soybean grower, a new report says.

Moody's Investors Service said Iowa exported nearly $2 billion in soybeans to China in 2016, making up about 4 percent of the state's economy — the largest exposure of any state in the nation.

"Iowa runs a close second to Illinois in soybean production but has much more economic exposure to the crop," the report said.

China is the largest buyer of U.S. soybeans, purchasing $14 billion of the commodity last year.

https://www.usatoday.com/story/money/2018/05/13/china-soybean-tariff-hits-iowas-economy-hardest-new-report-says/605977002/

[progressoid]

1. Wonder how much more of Trump's winning Iowa farmers will tollerate.

[workinclasszero]

2. Trump sells out his middle class base

to his 1%er backers and corporations.

We will see if the MAGA suckers wise up when Trump pals in big Ag step in to buy up all of their bankrupt family farms for pennies on the dollar.

[rurallib]

5. Heard from a friend that many farmers expect Trump to save the day before

they actually get hurt.

[matt819]

3. Trumpers:

Well, we're sorta kinda disappointed that this is happening.

And, we're sorta kinda upset that we can't get labor to bring in the crops.

And it's really disappointing that gas prices are eating up that vast (and non-existent) tax cut savings.

But, gosh darnit, that liberal media is being mean to Trump and we still support him.

[Frustratedlady]

4. Trump is busy right now helping that Chinese telephone company get its business back.

Get in line.

Looks like when Branstad went to China, his loyalty went, too.