Why Trump’s trade wars may harm US farmers

News Snapshot:

US President Donald Trump has initiated trade wars so far primarily against three countries: China, Canada and Mexico. On February 1, he ordered the imposition of a 25% additional tariff on all imports from Canada and Mexico, and a similar 10% levy on Chinese goods entering the US. On February 3, he announced a 30-day period pause on the implementation of the new tariffs on Canada and Mexico, even while retaining the 10% blanket additional duty on imports from China. China has subsequently hit back through import taxes of 10-15% on select US imports – crude oil, liquefied natural gas,...