US media reported on the 28th local time that because many countries around the world have strongly pushed back against the tariff policies implemented by the Donald Trump administration of the United States, especially a series of measures taken by China to suspend imports of American agricultural products, the United States Department of Agriculture has suffered heavy losses.
The head of the U. S. Agricultural Transportation Alliance is Blunt, the U. S. agricultural industry has come to a comprehensive crisis.
The trade war over U.S. tariffs has led to“Substantial” financial losses at its member companies, according to a report by the U.S. Farm Transporters Alliance cited by the Consumer News and business channel. Friedmann, executive director of the Alliance, said bluntly that the industry was no longer“Close to crisis”, given the cancellation of US agricultural orders, but was already facing a“Full-blown crisis”.
An exporter of wood pulp and cardboard said 6,400 tonnes of goods in its warehouses were being held up because of cancelled orders, at huge cost, the report said. A further 9,000 tonnes were due to arrive in China in mid-may, where they will have to be held in bonded warehouses or re-exported in response to tariffs imposed by the US, the costs are incalculable.
A forage exporter in central Washington state said it had to halt all orders being processed and cut a quarter of its workforce to cope with the crisis as Chinese customers cut back orders and costs rose.
As of April 14, shipments between China and the United States had fallen sharply, down more than 22 percent on a week-to-month basis and 44 percent from a year earlier, according to freight data. U.S. agricultural exporters have warned that the Chinese market will be difficult to replace, and prices have been hit by a drop in trade between the two countries, with some falling by more than 20 percent.