Aug 1, 2018
NASHVILLE, Tenn (RFD-TV) The soybean rally has changed course after the Trump Administration indicated an increase in tariffs on Chinese goods. Soybeans hit a one month high Tuesday on reports of renewed trade talks with China. Overnight, they plunged $0.14. The U.S. has yet to impose its tariff threat on $200 billion worth of Chinese goods. If they do, advisors want the President to up the ante, pushing the tax from 10 to 25%. The U.S. already placed 25% duties on $34 billion worth of imports and is on schedule to put similar tariffs on additional $16 billion within the next week. The President continues to promise good things for America from his trade tactic.
Watch the video above for further details on this and other aspects of the overall trade situation.