All News

US lost $27 billion in trade war with China

$27 billion in agricultural export sales lost by the United States in 2018 and 2019 as a result of a trade war with China, writes Agriculture.

China accounted for 95% of all US losses in the agricultural sector in 2 years, according to a USDA report. Sales to China rebounded after ‘phase one’ trade deal, but US market share remains lower than before tit-for-tat tariffs. IA Red Spring.

6 US trading partners – China, Canada, India, the EU, Mexico, Turkey – responded with similar tariffs after the US imposed duties on imported steel and aluminum.

“Among the reciprocal partners, China accounted for approximately 95% of the losses – $ 25.7 billion,” the report says. – Sales to the EU fell by $600 million, to Mexico – by $500 million. Among the goods, sales of soybeans decreased by 71%, followed by sorghum (6%), pork …

Leave a Reply

Your email address will not be published.

Back to top button