Tariffs, Soybeans, Argentina, and the Usual Trump Chaos
Earlier this year, Trump imposed tariffs on goods imported from China, one of America's largest customers for soybeans, a popular and profitable crop for American farmers.
China retaliated by placing a 20% tariff on those American soybeans, a move that that led China to start buying soybeans from Argentina and other countries to the detriment of U.S. farmers.
Trump has said he will use some of the tariff revenues to bail out American farmers hurt by his tariffs, while also pledging $20 billion in loans to bail out Argentina, a country known for not paying its debts.
Why would Trump help Argentina while they take American soybean producers’ biggest market?
Trump considers Argentine President Javier Milei a like-minded ally, has endorsed him, and is trying to give him a boost in that country’s upcoming midterm elections.
So the tariffs American consumers pay, will not only help bail out American farmers hurt by the tariffs, but also bail out a country who took the American farmers’ soybean market as a result of the tariffs because Trump likes its President.
Am I missing something?
= new reply since forum marked as read
Kick in to the DU tip jar?
This week we're running a special pop-up mini fund drive. From Monday through Friday we're going ad-free for all registered members, and we're asking you to kick in to the DU tip jar to support the site and keep us financially healthy.
As a bonus, making a contribution will allow you to leave kudos for another DU member, and at the end of the week we'll recognize the DUers who you think make this community great.