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China's tariffs on soybeans fueled US GDP growth



<p class = "Canvas Atom Canvas Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Soybeans are weak he has in President Donald Trump's trade war with China, as the country has imposed retaliatory tariffs on its voter base – American farmers – to defend these tariffs, Trump has provided soybean producers with short-term $ 12 billion in sorghum and other crops "data-reactid =" 31 "> Soybeans are a weak point in President Donald Trump's trade war with China as the country has imposed retaliatory tariffs to meet its constituency ̵
1; American farmers. To protect against these tariffs, Trump has offered
producers of soybeans, sorghum and other crops a short-term help of $ 12 billion.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " But on Friday, the soybean tariffs have Trump may have given a boost and contributed to the president's strong GDP growth – "We've reached an economic turnaround of historic proportions," he said. "data-reactid =" 32 " But on Friday, the Sojatarife might give Trump a boost. They contributed to the robust GDP growth that the president propagated: "We have reached an economic turnaround on a historical scale," he said.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " The US economy is in the According to economists, in part, soybean exports were nearly doubled in May compared to April, and producers were in a hurry to stop the sanctions soybean exports are 26% higher than in 2017. reactid = "33"> The US economy rose 4.1% in the second quarter, partly due to strong exports of soybeans According to the latest available data, in May, soybean exports almost doubled compared to April, producers were in a hurry to fight sanctions and soybean exports rose by 26% compared to 2017 [194500004]

The export of soybeans has reduced the GDP Growth for the fourth quarter increased. (19659007) More

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " In the second In the quarter, the US saw an 80% annual increase in food, feed and beverage exports, mainly from soybeans and corn, which would have increased exports by 5.3% instead of 9.3%, according to Paul Ashworth, the main US consumer -American economist at Capital Economics, GDP growth would have been at 3.6%. "Data-reactid =" 54 In the second quarter, the US annualized 80% export of food, feed and beverages, mainly from soybeans and corn, without this increase, exports would have increased by 5.3% instead of 9.3%, which means GDP growth of around 3.6%, according to Paul Ashworth, Capital Economics' most important US economist would have

<p class = "canvas atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm "type =" text "content =" David Rosenberg, Gluskin Sheff's Chief Economist, Argues Trade Disputes May play an even more important role in inflating GDP. "At least half of the growth comes from two trade-related issues – a soybean-sourced export burst and inventory buildup. Net this out and we'll stay close to 2%," he tweeted on Thursday "data-reactid = "55 David Rosenberg, the chief economist of Gluskin Sheff, argues that trade disputes could play an even bigger role in inflating GDP. "At least half of the growth comes from two trade-related issues – a soybean-fueled export boom and accumulation of inventory – take them out and stay close to 2%," he tweeted on Thursday .

<h2 class = "Canvas Atom Canvas Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " How sustainable could growth be ? "data-reactid =" 56 "> How sustainable could growth be?

President Trump speaks in the White House after the GDP number for the second quarter has been released. (19659016) More

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Trump used the opportunity to praise the strong economic results. " These numbers are very, very sustainable – this is not a one-time attempt, "he said during a White House press conference on Friday. " data-reactid = "77"> Trump took the opportunity to discuss the to boast strong economic results. "These numbers are very, very sustainable – this is not a one-time attempt," he said during a White House press conference on Friday.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " But economists warn that The growth rate is difficult to maintain and this is not the first time that soybeans have fueled short-term GDP growth: In mid-2016, US exporters boomed as the Brazilian harvest disappointed the impact on nominal export growth drastically – it reached an annualized growth of 10% in August, but fell to almost zero in December Apart from soybeans and corn, export growth was around 5% in the second half of 2016. "data-reactid =" 78 But economists warn that the rate of growth is difficult to sustain, not the first time soybeans have triggered a short-term rise in GDP. In mid-2016, US exporters boomed as the Brazilian harvest disappointed äuschte. The impact on nominal export growth was dramatic, reaching 10% annualized growth in August but declining to nearly zero in December. Excluding soybeans and corn, export growth in the second half of 2016 was stable at around 5%.

<p class = "canvas-atom canvas-text Mb (1,0em) Mb (0) -sm Mt (0,8. Emagazine.credit-suisse.com/app/art … = 157 & lang = en www.mjfriendship.de/de/index.php?op…80&Itemid=58 Ashworth does not expect this time to be different: he forecasts that soybean exports will plummet in July and nominal exports fall by 1.8% compared to June. The GPD figure will return to normal – about 2.6% in the third quarter. "data-reactid =" 79 "> Ashworth does not expect this time to be different, he forecasts that soybean exports will plummet in July and nominal exports fall in Compared to June will fall by 1.8%, and the GPD figure will return to normal – in the third quarter at about 2.6%.

<p class = "canvas Atom canvas text Mb (1.0em) Mb ( 0) – sm Mt (0.8em) – sm "type =" text "content =" The US-EU trade peace earlier this week does not change his view: "In the global soybean Market demand and supply are about balanced, "Ashworth told Yahoo Finance. He believes the US will export to a country other than China "If you look at the year as a whole, it has no effect whatsoever," he said. "It only affects one quarter and will continue in the next." "data-reactid =" 80 "> The US-EU trade agreement earlier this week does not change his view." Ashwell told Yahoo Finance that he believes the US will export to a country other than China to mitigate the impact of tariffs. "Looking at it all year, it has none Impact, "he said," It only affects one quarter and reverses the next. "

<p class =" canvas atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em ) – -sm "type =" text "content =" Krystal Hu deals with technology and economics for Yahoo Finance. Follow her on Twitter . "data-reactid =" 81 "> Krystal Hu covers technology and economics for Yahoo Finance, following Twitter .

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