Tariffs Catch-All

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Saw a farmer's youtube where he claimed the commodity price for soybeans he could get that day (around September 6) was actually slightly higher then it was a year ago. Therefore, that was proof that tariffs had not hurt the price he could get. And of course he blamed all the Mainstream News Media for falsely reporting that tariffs had adversely affected prices.

Which got me to thinking: tariffs don't affect commodity prices.........do they? Rather its a tax on whoever buys the commodity. Not sure how to counter his talking point that he's not being hurt by tariffs.
 
BlueSmoke said:
Saw a farmer's youtube where he claimed the commodity price for soybeans he could get that day (around September 6) was actually slightly higher then it was a year ago. Therefore, that was proof that tariffs had not hurt the price he could get. And of course he blamed all the Mainstream News Media for falsely reporting that tariffs had adversely affected prices.

Which got me to thinking: tariffs don't affect commodity prices.........do they? Rather its a tax on whoever buys the commodity. Not sure how to counter his talking point that he's not being hurt by tariffs.
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It is more about retaliation from countries like China. If they stop buying soybeans from the US and demand falls then so do prices.

There is obviously some adjustments. If China buys from another country then prices should rise there causing others to shift from buying there to US. But I think the point is that these shifts can’t happen immediately and therefore the demand for US soybeans will crater.

As for commodity prices, if what he says is true why the need for a bailout?
 
Found this on the ASA (American Soybean Association) site written on August 20. The first sentence may explain why prices haven't fallen to this point.

The tariffs implemented this year have had a limited impact on soy to this point as they occurred outside the major export window. That is quickly changing. Combines will start rolling through fields in the next month to harvest soy. At that point, the lack of export bookings will quickly become problematic as the main destination for the oilseed contains significant barriers. The problem will compound through the fall as more of the crop is harvested. By mid-October, almost half of the crop will be entering the supply chain.
 
ChapelHillSooner said:
It is more about retaliation from countries like China. If they stop buying soybeans from the US and demand falls then so do prices.

There is obviously some adjustments. If China buys from another country then prices should rise there causing others to shift from buying there to US. But I think the point is that these shifts can’t happen immediately and therefore the demand for US soybeans will crater.

As for commodity prices, if what he says is true why the need for a bailout?
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Yep, reviewing some of the comments he's gotten, others have asked the same question about the bailout. Which btw, the Trump Administration says it will be announcing something important on Tuesday.
 
nycfan said:

Trump making plans to send billions in cash bailouts to farmers with taxpayer money​

The president has also said he wants to use direct tariff revenue for the payments, but that could trigger a major fight in Congress.


“The Trump administration is planning to roll out the first tranche of bailout payments for farmers in the coming weeks, likely using billions of dollars in funding from an internal USDA account, according to three people with direct knowledge of the matter.

But it won’t be enough: USDA’s Commodity Credit Corporation fund — which President Donald Trump previously tapped to provide $28 billion in farm aid during his first-term trade war with China — has just $4 billion left in the account. Trump officials, including those at the Treasury Department, are looking at how to tap tariff receipts or other funding to supplement the payments without triggering a messy fight in Congress.

The timing of the actual aid rollout is also tricky given that it’s unlikely to happen or even be possible during the ongoing government shutdown that’s shuttered vast swaths of the Agriculture Department.…”
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Patb78 said:
I know I shouldn’t feel this way, but I have no sympathy for anyone who voted for Trump and is getting fucked by his policies. They were warned and still voted for the motherfucker.
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I couldn't agree more.

I will never understand his appeal, but I can nonetheless forgive voting for him in 2015. But after everything he did in his first term? And the Rubicon-crossing sentinel event which was January 6th? And the pardoning of the insurrectionist twats earlier this year? And the attempt to submit fake electors in 2020? And the numerous court cases challenging Biden's legit victory which were allowed to be brought anyway, even without any credible evidence? And the election denialism which continues to this day? Etc, etc, etc? Yes - fuck 'em indeed.

Without scores of enablers - some of them inexplicable in my view (like Hispanics and black people STILL supporting him) - and the gargantuan right-wing media apparatus sowing outright lies and disinformation at every turn, his ascension to the Presidency would be impossible. Which it always should have been.
 
Patb78 said:
I know I shouldn’t feel this way, but I have no sympathy for anyone who voted for Trump and is getting fucked by his policies. They were warned and still voted for the motherfucker.
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I have mixed feelings...

The angel on my shoulder tells me they didn't know any better bless their hearts
The devil on my other shoulder tells me they should have known better
 
BlueSmoke said:
Found this on the ASA (American Soybean Association) site written on August 20. The first sentence may explain why prices haven't fallen to this point.

The tariffs implemented this year have had a limited impact on soy to this point as they occurred outside the major export window. That is quickly changing. Combines will start rolling through fields in the next month to harvest soy. At that point, the lack of export bookings will quickly become problematic as the main destination for the oilseed contains significant barriers. The problem will compound through the fall as more of the crop is harvested. By mid-October, almost half of the crop will be entering the supply chain.
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So farmers are saying 10-14 billion in welfare will not be enough for them. With the trillions and trillions in tariff revenue pouring in, why can't we give our farmers a measly one trillion to help them in their time of need ?

 
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