AGRICULTURE/CHINA/TARIFFS/TRADE DEALS/TRUMP AS PRESIDENT: “The year was already shaping up to be difficult for Midwestern farmers. Incomes have slipped, farm bankruptcies have increased and widespread flooding has inundated the region, killing cattle and turning some fields into unplowable pits. Then came Friday’s [5-10-19] news from Washington: Trade negotiations with China, long a reliable buyer of Midwestern crops, ended without a deal. President Trump raised tariffs on $200 billion worth of imports, and the Chinese were weighing countermeasures. The breakdown was another blow for American farmers, who just a few weeks ago thought a trade deal was imminent. They now begin another growing season with uncertainty about who will buy their crops and whether they can break even. Though Mr. Trump pledged Friday to help farmers — part of the coalition that put him in office — there were signs of frustration. They raised questions about his negotiating tactics. They said they were worried about what would come next given an already-struggling agricultural economy.”
–Mitch Smith, “Frustration Mounts Among Farmers as China Trade Talks Break Down,” The New York Times online, May 10, 2019