Please note that Cherry Farmers Say US-China Trade War has Made Business Go Sour.
When it comes to the impact of Chinese tariffs on U.S. farm goods, sweet cherries are the canary in the coal mine.
Unlike other commodities that can be stored, cherries are perishable. They’re picked, packed and sold right away. When China’s tariff went from 10 percent to 50 percent last July, right in the middle of the harvest, exports to China went from the most profitable to the pits.
Growers in Washington state, by far the largest producer of sweet cherries in the U.S., saw their bumper crop lose $86 million in value overnight.
Soybeans grown in the Midwest are a much bigger player, accounting for 60 percent of the $20 billion of food exports to China. A Nebraska Farm Bureau report recently released said the retaliatory tariffs have cost state growers $1 billion. Farmworkers lost another $200 million in income.
4th Dimension Thinking
Not to worry, some of my readers inform me that Trump is playing chess in 4D.
The same applies to soybeans, kidney beans, specialty nails, whiskey, corn, Harley Davidson Motorcycles, and countless other wins that I am having a seriously hard time keeping track of.
On October 25 I reported 57 Companies Bitch About Trump's Tariffs, 7 Give Positive View.
That report left off nails, tire chord makers, kidney beans, cranberries, and lobster.
Once again, I remind everyone that this is working perfectly by design, that Trump is thinking in the fourth dimension, and that everything is going to plan. How do I know this?
Trump Endorses Boycott of Harley
Trade Wars Easy to Win
4th Dimension Scorecard
No doubt some of you want a more recent update on 4th dimension thinking.
With all these alleged victories I don't blame you. Let's check in for a third-quarter update of successes.
Please consider Trade Deficit Widens by 1.7% With China Leading the Way.
Excuse me, that chart shows a month-over-month headline. What about the third quarter?
Third Quarter Numbers by Country
- The deficit with China increased $10.3 billion to $95.9 billion in the third quarter. Exports decreased $3.1 billion to $46.0 billion and imports increased $7.2 billion to $141.9 billion.
- The deficit with the European Union increased $6.3 billion to $30.2 billion in the third quarter. Exports decreased $2.0 billion to $143.2 billion and imports increased $4.2 billion to $173.4 billion.
- The deficit with Japan decreased $1.9 billion to $13.4 billion in the third quarter. Exports increased $0.5 billion to $30.4 billion and imports decreased $1.5 billion to $43.7 billion.
5th Dimension Needed
We desperately need a 5th Dimension. I can help.
If anyone can possibly deliver 5th dimension tariff thinking to save the US, I am positive Trump is the one.
Mike "Mish" Shedlock