AGRICULTURE/CHINA/TRADE WAR/TRUMP AS PRESIDENT: “President Trump on Thursday [5-23-19] unveiled a $16 billion bailout for farmers hurt by his trade war with Beijing, signaling a protracted fight ahead that is already prompting some American companies to shift business away from China. Mr. Trump, flanked by farmers and ranchers in cowboy hats during remarks at the White House, said China had ‘taken advantage’ of the United States for far too long and vowed to protect an industry that has been ‘used as a vehicle’ by Beijing to hurt America’s economy…Global markets tumbled on Thursday as investors began coming to terms with the idea that Mr. Trump’s trade war is here to stay. Benchmark indexes in China, Germany and France all dropped, with the S&P 500 falling 1.2 percent. American crude oil prices were down more than 5 percent, amid growing concern that the trade war would start to drag on global economic demand. The yield on the 10-year Treasury note fell to 2.29 percent at 3 p.m., according to Bloomberg data. That was its lowest closing level this year and a sign that investors were expecting lower levels of growth and inflation.”
–Ana Swanson, “Trump Gives Farmers $16 Billion in Aid Amid Prolonged China Trade War,” The New York Times online, May 23, 2019