Part 3/13:
These steep losses are attributed primarily to the intensifying trade war between the United States and China. Following President Trump's announcement of fresh tariffs, China retaliated with a 34% tariff on all US goods and barred several key American companies from doing business within its borders. This response escalated tensions significantly, pushing the average tariff on US imports in China to approximately 50%. The impact on the agricultural sector is expected to be particularly unfavorable, with potential losses amounting to tens of billions of dollars as China accounted for 14% of all US agricultural exports last year.