Farmers plant soybeans amid uncertainty over tariffs
After President Donald Trump threatened tariffs on $50 billion in Chinese goods, the Chinese government threatened to target soybeans, an important American cash crop. As farmers got ready to plant their fields, they didn’t have much choice but to stick to planting soybeans and hope for the best. But there are other actions they could take, like selling their harvest ahead of time on the futures market, or making plans to sell to another foreign market. The tariffs could also affect other rural businesses like machinery dealerships and fertilizer distributors.
Correction (May 2, 2018): The original version of this story misstated the tariff that prompted China to threaten tariffs on soybeans. It has been corrected to show that tariff was $50 billion in Chinese goods.
Click the audio player above to hear the full story.
Stories You Might Like
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
