Evolving market dynamics make it easy to underestimate how the impacts and costs of trade issues will continue to grow in 2019, reports Farm Talk.
The most obvious impacts of trade wars are the direct impacts of tariffs and disruptions in trade flows in specific markets. This includes numerous agricultural markets; in particular soybeans and pork as a result of reciprocal tariffs with China.
The new USMCA agreement is not yet ratified or implemented, but in any event, much of the benefit is negated by these tariffs.
The uncertainty of global trade turmoil also takes a significant but largely unmeasurable toll on the economy.
Read the full report at Farm Talk.
