Planet Money What happened to U.S. farmers during the last trade war
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May 14, 2025 Explore the emotional journey of Iowa farmers as they face the harsh realities of trade wars. Dive into the ripple effects of the 2018 trade war with China, focusing on the plummeting exports of soybeans and pork. Discover how government interventions aimed to shield farmers from financial ruin, and reflect on the historical struggles of American agriculture. The podcast vividly captures the intricate dance of international trade and its profound impact on farming lives amidst mounting economic uncertainty.
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Griffune Family Farm Example
- LaVon and Craig Griffune manage a large multi-species farm near Des Moines, Iowa.
- Their main income comes from corn and soybeans, which they sell to a food processor that exports internationally.
Overproduction and China Trade Link
- American farms became too efficient and overproduced crops in the 1980s.
- China became a vital buyer of American soybeans, consuming them largely to feed their pork industry.
Sorghum Ship Detoured
- A cargo ship carrying sorghum to China had to reroute to avoid high retaliatory tariffs during the 2018 trade war.
- This illustrated the immediate and direct impact of trade disputes on U.S. agricultural exports.