USDA economists project agricultural losses exceeding the 1980s farm crisis if China implements retaliatory measures:
Crop-Specific Catastrophes:
-
Soybean Sector Collapse
-
85% export decline (China buys 60% of US crop)
-
Price crash to 8/bushel(from13.50)
-
32,000 Midwest farms at risk
-
-
Pork Industry Bloodbath
-
72% of $2.5B Chinese market lost
-
Smithfield Foods warning of 40 plant closures
-
13,000 hog farmers facing ruin
-
Political Timebomb:
-
Iowa GOP delegation splits on tariff support
-
Farm Bureau launching $15M ad campaign
-
China stockpiling Brazilian soy as hedge
Historical Parallels: