Wow, I wonder what happened in November 2018 to cause the previous zero import situation?
Reuters doesn't feel it's worth mentioning so probably just random fluctuations in the market or a previous Trump trade war, something like that of no relevance to the current situation and so best ignored.
Here's an economics paper summarising and putting dollar values on the fallout that time:
ZeroGravitas•16m ago
Reuters doesn't feel it's worth mentioning so probably just random fluctuations in the market or a previous Trump trade war, something like that of no relevance to the current situation and so best ignored.
Here's an economics paper summarising and putting dollar values on the fallout that time:
https://www.sciencedirect.com/science/article/abs/pii/S03069...
Estimating the market effect of a trade war: The case of soybean tariffs
* In 2018, China levied a 25% retaliatory tariff on U.S. soybean exports.
• That tariff led Chinese buyers to favor Brazilian soybeans.
• We estimate the tariff lowered U.S. prices at the Gulf by $0.74/bu on average for about five months.
• USDA’s trade aid payments for soybean damages summed to $3.70 for 2 bushels over two years.
•We project that USDA’s trade aid to soybean producers exceeded the tariff damage by about $5.4 billion.