American farmers are preparing to gather the first harvest of consequences, “the restoration of trade justice.” 300 casacristina from 30 States will suffer losses due to the fall in soybean prices, which occurs due to the trade confrontation between Washington and Beijing.
In response to the introduction of trump administration duties on Chinese goods by $50 billion, China has also increased import tariffs on some goods. In particular, and soybeans.
As reported by Fox News, the producers of soybeans are already feeling the impact. The prices of their products drop. And to harvest just a month left. According to the forecast of the American soybean Association (ASA), representing the interests of 300 thousand farmers in 2018 manufacturers will go for the beans for $6 billion less than in the 17th. According to experts, in total, the agricultural sector could lose about $14 billion.
“If I sell the crop at the current price, it will get smaller by about $150 thousand despite the fact that I usually go for about $700 thousand,” – quoted by Fox News American farmer Danny Murphy – “I will soon retire, and you take from my retirement plan of $150 thousand Yes, this is a significant success.”
United States exports about a third produced in the country of soybeans. According to the ASA, 60% of imports purchased in the 17th year China had on the United States. At the same time China has already announced that it plans to increase its own production of beans. Local farmers will receive additional subsidies from the state.
Media: EU sanctions will be extended to six months
EU leaders at the summit held in Brussels, decided to extend economic sanctions against Russia for six months.
“We held a short discussion on the topic of Russia, Ukraine, the Minsk agreements, the outcome was the agreement to extend the sanctions for another six months,” media quoted a source from the EU Council.
On the possible extension of the restrictive measures previously announced by the Prime Minister of Poland Mateusz Morawiecki.
At the same time, Italy has opposed the automatic extension of anti-Russian sanctions. “Nothing has to happen automatically in terms of sanctions against Russia. We must be careful. Sanctions are a means, not an end”, – the Chairman of the Council of Ministers of Italy, Giuseppe.
June 27, in the meeting on international trade issues, Prime Minister Dmitry Medvedev said that Russia will extend retaliatory restrictive measures against the US and the EU in 2019, and will retaliate against US duties on steel and aluminum.
Media: trump offered Him a deal for the withdrawal from the EU
Donald trump offered to Emmanuel Macron lucrative bilateral trade deal to replace France’s withdrawal from the EU – according to The Washington Post.
Citing European officials, the publication reports that during a private conversation held in the White house on 24 April, the US President discussed with the French leader in trade issues. At some point, trump asked Him: “Why don’t you leave the EU?” Instead, he allegedly suggested that the French counterpart bargain on more favorable terms than with the EU as a whole.
At the same time, as the portal Axios, during the same conversation, the US President said that the European Union in the sphere of trade “worse than China”. In March 2018, the US imposed import duties on steel and aluminum in 25% and 10% for all countries which export these products in the United States. In response, EU member States agreed to set import duties at 25% on American goods a total volume of 2.8 billion euros.
Media: the ECB has warned the EU about the underestimation of trading risks
European Central Bank President Mario Draghi warned the European Union that the consequences of a trade war with U.S. can be more serious than expected.
This is with reference to the comments of the ECB President told Bloomberg. As noted, in the framework of the EU summit in Brussels, Draghi said the heads of government that the mounting tension in relations between the EU and the USA can lead to negative consequences in terms of deterioration in the business climate, and negative impact on the production chains of various companies.
According to an unnamed source Agency Mario Draghi also noted that the uncertainty and reduced the confidence of business in connection with the deterioration of trade relations have a significant negative on private investment in the EU.
