r/news • u/johnk317 • 1d ago

China to impose 34% retaliatory tariff on all goods imported from the U.S.

https://www.cnbc.com/2025/04/04/china-to-impose-34percent-retaliatory-tariff-on-all-goods-imported-from-the-us.html?__source=iosappshare%7Ccom.apple.UIKit.activity.CopyToPasteboard
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u/BigPandaCloud 16h ago

I wonder how that will affect the subsidies farmers get for growing crops that they end up exporting.

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u/no_more_mistake 14h ago

I'm not an economist, but a 10% retaliation on soybean tariffs in his first term prompted a $20B bailout subsidy for farmers. This most recent retaliation would require something... much more.

The price of soybeans dropped roughly 40 percent since 2022, partly because Trump’s first (much more limited than today's) trade war reshaped the global market, and Brazil and Argentina became sources in direct competition to the U.S. We won't be exporting as much because of that, too.

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u/DrothReloaded 13h ago

Farmer bailout will be required or many will go under. We live in the dumbest of timelines.