Adriana Belmonte | Yahoo Finance | May 14th, 2019
Category: Financial News
The U.S.-China trade war has had a major effect on American farmers since the Trump administration began taking action against Beijing in March 2018.
Things got worse recently when President Trump announced on Friday that the U.S. will be implementing 25% tariffs on Chinese goods. China responded on Monday by stating that starting on June 1, it will impose its own 25% tariffs on a portion of $60 billion worth of U.S. goods. Reports that Trump and China’s President Xi would be meeting in June at the G20 also surfaced, sparking hopes that the two sides might reconcile.