"Running Out Of Time" - US Soybean Farmers Disappointed As China Goes Elsewhere

The hope by now, the start of summer, China would be purchasing large amounts of agriculture products from American farmers to boost President Trump's reelection odds ahead of the 2020 presidential election this fall. But that is not the case, as we've highlighted in recent weeks, Beijing/ rest of Asia have been on a buying spree in Latin America.

Iowa Soybean Association president Tim Bardole told NBC News that President Trump's signing of the phase one trade deal had been a disappointment, and China's commitments as per the trade deal will likely not be met. 

"At this point, it hasn't done near what we were hoping would happen with it," Bardole said. "At this point, we're kind of running out of time for it to get close to the numbers we might have hoped."

Bardole had discussions with the House Ways and Means Committee last Wednesday, U.S. Trade Representative Robert Lighthizer told him that China is expected to satisfy trade deal purchase agreements - though as we've noted, from day one, the commitments were unrealistic targets

(Click on image to enlarge)

NBC quoted a section of former national security adviser John Bolton's new book titled "The Room Where It Happened," which alleges the agriculture purchase targets of the phase on the trade deal were artificially high by design to boost President Trump into the elections. 

The hope and hype surrounding the 'greatest trade deal ever' in the "greatest economy ever" by the president and his administrative officials have been nothing short of false hope for farmers who bought bigger tractors on the promise of massive new deals from China, have been left in financial ruins as Chinese buyers went elsewhere. 

"A lot of farmers are supporting what President Trump has done with China because this has been going on for years," Bardole said."I hoped by now, or by a year ago, everything kind of would have been settled."

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