China, the world's top soybean importer with the U.S. providing close to 60 percent of the commodity, is considering targeting Trump's base. Growing talk about a trade war has worried Iowa farmers and would kill Trump reelection aspiration in 2020. While the world seems skeptical about this outcome, citing a meeting between Chinese soy leaders the Iowa group earlier in the year, politics and ego have driven countless policies mistakes over the years.
Smart money is watching soybeans with great interest (chart). PREV defines the daily, weekly, monthly trends as consolidation, consolidation & up. Primary trend's upside alignment favors a bullish resolution.
Headline: U.S. Sees a Risk China Will Target American Farmers in Trade Fight
The U.S.’s top trade negotiator said he’s concerned American soybean farmers will become victims of Chinese trade retaliation, but the Trump administration is pursuing a tariff policy to protect broader national interests.
“What I would agree with is that we have trade rights that we have to defend and that too often farmers get the short end of the stick,” U.S. Trade Representative Robert Lighthizer told senators during a hearing Thursday in Washington. “We have to balance this.”
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