ND is Ninth Largest Ag Exporting State; Tariffs Threaten Over $60M in Exports
(BISMARCK, ND) – The trade war is posing disastrous consequences for North Dakota’s farmers and businesses – 111,100 jobs and over $60 million exports are threatened by the tariffs – and the issue is more pressing than ever with the Trump administration announcing this week another round of tariffs, this time on $200 billion worth of Chinese goods.
But what has Cramer done? He’s told farmers to have a higher “pain threshold” and called their concerns “hysteria.” While Cramer may be willing to be a rubber stamp for the president and all of his policies, North Dakotans are dealing with the fallout. See what North Dakotans are reading about the damage the trade war is causing:
Fargo Forum: Commentary from 4th generation farmer: Trade wars are economic self-mutilation.
“Agriculture will be the casualty in a trade war. […] The tariffs on steel and aluminum will greatly affect Dakota farmers, especially corn and soybean farmers. […] Trade wars are economic self-mutilation.”
Fargo Forum: Trump tariffs prompt trade worries for N.D. soybean growers.
“Observers like Peterson are concerned that Monday’s new tariffs could be early shots in a growing trade war that could sweep up their commodity, with worrisome results for producers and the local economy. Soybeans are a huge export from North Dakota, Peterson said, and more than two-thirds of the statewide crop is shipped to China.”
Fargo Forum: Talk of tariffs creates unwelcome uncertainty for local ag, steel businesses.
“More than two-thirds of North Dakota’s soybean crop is shipped to China, which imports more U.S. soybeans than all other countries combined.
Pete Hanebutt, director of public policy at the North Dakota Farm Bureau, said tariffs and talk of tariffs represent a potential double whammy for farmers. Firstly, he said, they increase the cost of production for things like equipment and vehicles, and secondly, countries where North Dakota now sells agricultural products may switch to growers in other countries. China, in particular, could start buying things like soybeans elsewhere, according to Hanebutt. “That’s a huge impact for us. That’s real, and our farmers and our members are obviously very, very concerned,” he said.”
WHSV: North Dakota farmers looking for answers amid tariff uncertainty.
“North Dakota farmers are scrambling for answers in Washington. As a trade war brews between the U.S. and its partners, an atmosphere of uncertainty looms. North Dakota agriculture leaders say can’t afford to lose these relationships. ‘Worst case scenario, you could see farmers losing their farms,’ said Jeff Mertz, president of the North Dakota Grain Growers Association… He doesn’t like being used as a negotiating tool.”
WDAY: ‘We feel like we’re a bargaining chip’: N.D. soybean farmers fear trade war after Trump announces tariffs.
“‘There is no doubt that it will affect our bottom line,’ if there is a trade war, he said. ‘North Dakota is a producing state, not a consuming state, so we need free trade.’
‘As a soy grower, I depend on trade with China,’ said Davie Stephens, vice president of ASA. ‘This is a vital and robust market that soy growers have spent over 40 years building and, frankly, it’s not a market U.S. soybean farmers can afford to lose.’”
Bismarck Tribune: North Dakota to lose a lot in trade war.
“President Donald Trump’s insistence on creating balance with the nation’s trading partners could come back and bite North Dakota hard. North Dakota’s economy relies on the export of its agricultural products and the import of many other items. With other countries slapping retaliatory tariffs on the U.S. it could hurt the state’s rebounding economy.”
Grand Forks Herald: North Dakota manufacturers left to weather uncertainty of trade war.
“Steel and aluminum prices are rising in the region, and that means higher prices for farming equipment, recreational vehicles, motorhomes and more. With tariffs in place on steel and aluminum from U.S. allies since early June and threats of retaliatory tariffs from Canada in July, the North Dakota Trade Office said it already has noticed a 15 to 20 percent increase on base prices for steel and aluminum. North Dakota manufacturers who rely on these metals know they’re already paying more, but they’re less certain what price hikes will eventually mean for business and consumers.”
Fargo Forum: ‘Don’t forget about us’: Farmers rally for better prices, steps to buffer trade war impact on agriculture.
“Farmers, confronting slumping crop prices that don’t cover the cost of production and finding themselves pawns in an escalating trade war, rallied hours ahead of an appearance by President Donald Trump to deliver a message. ‘We need to tell them we need a price that will let us make a living on the farm,’ Mark Watne, president of the North Dakota Farmers Union, said at a rally of farmers at the Red River Valley Fairgrounds on Wednesday, June 27.”
West Fargo Pioneer: ‘We are in a trade war,” ND trade leader says as US, China swap tariffs.
“[North Dakota Trade Office Executive Director Simon] Wilson estimated that $1.4 billion to $1.8 billion in North Dakota soybeans are exported to China annually.”
Politico: Trump country hit hard by Chinese tariffs.
“[The trade moves are] likely to cut deep into the incomes of farmers, ranchers and agribusinesses… The brunt of the penalties are likely to affect U.S. soybean growers. Nearly one-third of U.S. soybeans, or about $14 billion, is sent to China each year.
U.S. farm groups, including the American Farm Bureau Federation, American Soybean Association, National Corn Growers Association and National Pork Producers Council, have been pleading with the Trump administration to adopt a different strategy of holding trading partners accountable. They argue farmers and ranchers are already dealing with a four-year slump in commodity prices, and U.S. officials should instead be focusing on opening new markets to help boost their bottom lines.”
Grand Forks Herald: Our view: Risky times for region’s ag producers.
“It’s a risky game of poker and, unfortunately, the stakes are high in the Dakotas and Minnesota […] Producers will be adversely affected.”
Politico Morning Agriculture: Long game vs. endgame.
“Now that a U.S.-China trade war is a reality, there appears to be no clear end in sight or exit strategy for the U.S.”
Williston Herald: Tariff talk already hurting farmers.
“Tariffs and talk of tariffs have already snipped 20 percent off of soybean farmer’s bottom lines, North Dakota Farmers Union President Mark Watne says.”
CNBC: North Dakota soybean processors hit hard by tariffs as China cancels orders.
“The head of the North Dakota Trade Office says Chinese buyers have killed all of their firm orders for food-grade soybeans, valued at $1.2 to $1.5 million. The cancellations happened just prior to and immediately after tariffs went into effect in July.”
Politico: The trade war comes to the prairie
Williston Herald: Steel tariffs will cost North Dakota’s oil and gas industry
Fargo Forum: Possible China trade repercussions feared in Upper Midwest
Bloomberg: Blindsided by China Tariffs, American Farmers Suddenly Face Huge Decision
Washington Examiner: Trump trade war will test the faithfulness of rural GOP candidates
Bloomberg: American Farm Groups Plead With Trump to Back Off China Trade Conflict
Washington Post: Farmers who propelled Trump to presidency fear becoming pawns in trade war
New York Times: Across Midwest, Farmers Warn of G.O.P. Losses Over Trump’s Trade Policy
NBC News: GOP faces rural rebellion over Trump trade agenda
Fargo Forum: Letter: Trump’s trade war with China is a big flop
CNBC: Canada announces retaliatory tariffs on steel and aluminum
Feedstuffs: Ag will be hit as U.S. moves ahead with steel, aluminum tariffs
CNN: Trump’s trade moves create midterm headache for Republicans
Grand Forks Herald: Trump’s approach to trade with China ‘detrimental to North Dakota,’ Mac Schneider says
CNN Money: Mexico imposes tariffs on $3 billion worth of US exports
CBS: Europe to impose retaliatory tariffs on U.S. imports
Politico: Republicans in turmoil over Trump’s trade moves
Bismarck Tribune: Editorial (St. Louis Post-Dispatch): Trade moves may backfire on president
Bismarck Tribune: North Dakota, Minnesota companies feel effects of tariffs
CNBC: China announces retaliatory tariffs on $34 billion worth of US goods, including agriculture products
Reuters: RPT-U.S. oil pipeline companies, producers seek relief from steel tariffs
CNBC: Soybean prices plunge to nine-year low on US-China trade war fears
City-Journal: The High Cost of Tariffs
AGWeek: Opinion: Trade wars leave farming as a casualty
AGWeek: Opinion: Trade tensions dominate markets
CNN: Trump takes trade policy on the road. It may not be welcome.
Fargo Forum: Commentary: Soy growers need trade, not tariffs
Grand Forks Herald: Our view: Trade worries abound in north country
CBS: Canada tariffs on $12.6B of U.S. goods take effect
MyNDNow: Heitkamp: N.D. can lose $61 million due to tariffs
Bloomberg: China to Cancel More U.S. Soy Shipments as More Tariffs Loom
Washington Post: The Finance 202: Republican candidates in key Senate races struggle with Trump tariffs
Washington Post: China cancels US soybean purchases as trade war takes hold
Associated Press: Trade war with China is on
NPR: Trade War With China Heats Up, But Tariff Effects Are Already Rippling Across U.S.
Bloomberg: Feeling the Trade-War Pain