Leaders of the U.S. agricultural industry are girding for an extended trade battle with China, which is already taking a toll on U.S. farmers and food companies.
Trade disputes with China, Mexico and other countries touched off by President Trump’s get-tough stance on trading partners, are altering global flows of foodstuffs like soybeans and pork, agribusiness executives said. Retaliatory tariffs are cutting into profits for the biggest agricultural companies and farmers alike, prompting the U.S. government to pay out billions of dollars to shore up farmers’ finances.
The chief executive of the top U.S. pork producer said the Trump administration’s trade fight with China was needed to improve access to a major market for that meat.
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