|
| Take a look at lean hog futures since the tariff was announced, it knocked $10 lean hogs here, almost 15% while like you said it will hardly affect the Chinese market. The Chinese are taking advantage of the asymmetry and getting the most effect with the least damage. Meanwhile, back in the US they have put pressure on trump's core constituency.
Now if they had put a tariff on soybeans that would affect their economy differently.
Take a minute and go read what Wikipedia has about the 1980 Russian Grain embargo and why it backfired so badly on Jimmy Carter. Namely the Russians were able to get grain from elsewhere, stimulated grain production in Ukraine & elsewhere and ruined one of Carter's core constituencies, Midwestern farmers. | |
|
Smithfield CEO on Bloomberg last night
