Trade conflicts between major economies can reduce export demand for agricultural commodities and contribute to increased financial distress among farmers, including higher rates of farm bankruptcies.
high
economic
General relationship between international trade disputes and agricultural sector financial outcomes
China was previously the largest buyer of U.S. soybean exports.
high
trade
Historical pattern in U.S.-China agricultural trade
Retaliatory tariffs on agricultural products can force farmers to sell crops at steep losses when access to major export markets is reduced.
high
trade_policy
Mechanism by which trade retaliation affects farm incomes