Tensions between the United States and China have increased yet again as the trade war continues. Recently, President Trump announced a 10% tariff on $300 billion in Chinese goods. American businesses and consumers will be paying the import tax. In response, China allowed their currency to weaken, but perhaps most damning is they also suspended purchases of American agricultural products.
This will likely be drug out much further. – Dr. Frayne Olson, NDSU Agribusiness and Applied Economics
LISTEN TO DR. FRAYNE OLSON DISCUSS THE TRADE SITUATION
Dr. Frayne Olson, NDSU Agribusiness and Applied Economics, joined me on my KFGO radio show “Afternoons Live with Tyler Axness” to discuss the situation. Olson explains how China has changed to a more hard-line position in negotiations. I asked if this is one of the worst-case scenarios for North Dakota farmers.