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How big a deal is the China ag announcement? China bought 17% of US ag exports - more than Canada or Mexico.
Until recently, China was Number 1 market for US soybean exports, buying more than half the exported soybean crop.
China was the number 2 destination for US hay; number 3 for US dairy and poultry; number 4 for pork and beef; number 5 for wheat.
China's food purchases from US have dwindled in recent years. Still, China bought about $24 billion of US farm products in 2017 = to almost one-fourth of the net income of all US farms.
If the US was absorbing this hit for some rational purpose it might be worth it. But to absorb it in pursuit of Trump's vision of restoring the US autos-steel-and-coal economy of 1960 ...
