US agriculture could take hit from China trade retaliation (CNBC)
- Impact Area
CNBC published an article in which Joseph Glauber assessed potential impacts of President Trump’s steel tariffs on the agricultural sector. According to the article, China is poised to retaliate by sourcing its soybean oil from Latin America instead of the US, a loss worth at least US $14 billion a year. “They have certainly indicated that they are investigating looking into soybeans as a potential retaliation,” said Joseph Glauber.