For the past yr, @JianingHollyHe & I have been talking w/ Rick Kimberley: Iowa farmer ➡️ ag celebrity in China ➡️ collateral damage in the trade war.
Here's what we learned. /thread
macropolo.org/podcast/heartl…
That big bet on Chinese markets didn't start paying off for 2 decades, until China entered WTO in 2001.
Rick is the 5th generation in his family to farm this piece of land, and he was a bit overwhelmed by the fallout from the visit...
- become an agricultural celebrity in China
- made 20+ trips to China and given talks in 60+ cities
- had thousands of Chinese tourists come visit his farm
- founded a "Friendship Farm" in Hebei w/ a model Iowa town built for tourists.
Farmers told us they agreed you needed to be tough on China+trade, but this approach has "blown up the farm economy."
Rep from soybean industry association told us, "Farming is not like owning a cupcake shop."
👇 pic is from lobby of Iowa Soybean Association.
Instead, it was ethanol. Trump's EPA's been giving out waivers exempting oil refineries from putting ethanol in gas.
Corn industry rep said these have "enraged our farmers."
Trump had teased idea of signing the deal in Iowa. In the end, it was inked in the White House.
1. It's a good start.
2. Iowa farmers won't see real relief until this fall.
3. Sth should've been done about China trade years ago.
For deep dive into China+Iowa+agriculture, listen here: macropolo.org/multimedia/pod…