Huawei Ban is Bigger Than You Think and other Trade War Musing Somervell County Salon-Glen Rose, Rainbow, Nemo, Glass....Texas


Huawei Ban is Bigger Than You Think and other Trade War Musing

26 May 2019 at 8:47:30 AM


The tech cold war between the United States and China is continuing to escalate. Just days after the Trump administration blacklisted China’s largest tech firm, Huawei, it’s reportedly weighing a ban against additional Chinese companies as part of its broader standoff with Beijing, cutting off their access to American technology. The move is likely to inflame tensions, and could accelerate the division between companies that rely on American tech, and those that use Chinese, potentially setting Beijing on a path to technological independence. “Even the briefest of bans will be proof to them that China can no longer rely on outsiders,” Bloomberg’s Tim Culpan wroteSunday. “This can only accelerate the process of creating a digital iron curtain that separates the world into two distinct, mutually exclusive technological spheres.”


  • Many economists, once optimistic for a U.S.-China trade deal, now lean towards skepticism one will happen soon
  • Some are even saying the world's two biggest economies are heading into an economic cold war that could last years. 
  • If President Trump's full tariff threats are realized, it could cost a typical three-person family in the U.S. $2,200 annually in higher prices for goods, according to a Peterson Institute of International Economics estimate.

 Collateral Damage Of The Trade War, Farmers Want Chinese Market Reopened

Collateral damage is exactly what many U.S. farmers feel like right now, even as the Trump administration has promised a second bailout, this time worth $20 billion. That will help some, but many farmers say a trade resolution that reopens the Chinese market is what they really want.

"We were willing to take one for the team, if it was going to be a long-term goal," said Ronnie Russell, vice president of the Missouri Soybean Association. "But the truth of the matter is now, are we going to be able to still survive in the short term so we can be here to take advantage and enjoy that long-term goal?"

And while those who don't farm may ask why farmers just don't grow something else, it's not an easy pivot — especially when it comes to grains like wheat, corn and soybeans. Farmers, like Friest in Iowa, invest thousands in land, equipment and technology.

"Our soils adapt very well to growing corn, they grown soybeans. We have the markets for them and we have the machinery set up for it," he said.

 But Chuck Grassley still getting his piece of farm aid while maintaining support for Trump's trade war with China. 

The big question, though, is whether federal money will be enough to help farmers struggling to compete in a difficult market. Campbell’s reporting found “a total of 84 farms in the upper Midwest filed for bankruptcy between July 2017 and June 2018 ... That’s more than double the number of Chapter 12 filings during the same period in 2013 and 2014 in Wisconsin, Minnesota, North Dakota, South Dakota, and Montana.”

The first bailout did not provide enough aid for all farmers to keep their farms open, and it isn’t clear this second aid package will be enough to ensure more farms aren’t forced to shutter this year.

Isane said that even if every farmer manages to keep their farm operational, and even if the tariffs were rolled back immediately, the damage to farmers might be too severe to repair.

“People don’t realize that once you lose a market, it’s hard to get it back,” Isane said.



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