'He is making it up as he goes along': CillizzaCNN takes a look at contradicting remarks made by President Trump about both a recession and the US-China trade war over the past two days.
Even if Trump does reverse himself on trade, is the damage done by his China tariff policy irreparable at this point?It’s gonna take awhile for American farmers, and US businesses that have been affected by the trade war with China, to get back on their feet again.
Deere, the agricultural company, reported earnings and sales that missed Wall Street forecasts last Friday. Revenue, overall, fell 3% from a year ago. The company’s CEO, Samuel Allen,“reflected the high degree of uncertainty that continues to overshadow the agricultural sector.” The Trump administration has been pouring billions of dollars to farmers hurt by the trade war. It’s expected to begin paying $14.5 billion by the end of August, the second round of aid that the Trump administration has rolledThose farmers have been battling tariffs from China for nearly a year now. Those levies wind up make American farm products more expensive for Chinese importers, and private buyers have mostly stopped buying American-grown soybeans or wheat.
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