By Jon Dougherty
(NationalSentinel) A day after Wall Street suffered one of its biggest one-day drops over fears of a ‘recession,’ critics of President Donald Trump’s tariffs on Chinese goods claimed they are responsible for wrecking the U.S. economy, as evidenced by the market’s performance.
One group that is consistently held up by both Democrat and Republican critics of the U.S.-China trade war as coming up on the short end of the deal is American farmers: They are suffering massive losses and are on the brink of bankruptcy. This perception has been fed by carefully timed stories in the establishment media, which also has a huge grudge against this president.
But a new survey by Iowa State University found that the vast majority of farmers support the president’s China tariffs,Â One American News Network reported:
According to the study, nearly 60-percent of respondents in those states expressed support for the ongoing trade war, while 14-percent had neutral feelings on the matter.
This comes after Beijing announced earlier this month it would be suspending purchases of all U.S. agricultural farm products in response to the Trump administrationâ€™s recent round of tariffs targeting $300 billion in Chinese imports.
The study and survey also debunked another Leftist Trump critic myth as well: That farm operations overall are tanking.
According to researchers, even though trade tensions between the U.S. and China have resulted in nearly a $10 billion decrease in U.S. agricultural exports to China, domestic farm production and exports have continued to rise, suggesting that “other countries have started buying products that China has dropped,” OANN reported.
As other countries buy products that China no longer purchases, that could put more pressure on Beijing to seek a real trade deal with the U.S., especially if it can’t replace those agricultural products with other suppliers, and for the same prices.
Still, nearly 80 percent of respondents did say they believe that farmers are bearing the brunt of the ongoing trade dispute, but acknowledge that the president has been keen to address their concerns.
â€œAgain, theyâ€™ve said this many times, theyâ€™ve said theyâ€™re going to buy farm products, so far theyâ€™ve disappointed me with the truth,â€ the president said this week. â€œThey havenâ€™t been truthful or letâ€™s say they have certainly delayed this decision, but itâ€™s their intention to buy a lot of farm products and we did, we had a very good call with China.â€
Trump was prepared to implement a 10-percent tariff on the remaining $300 billion worth of Chinese imports, but stated Wednesday he would hold off on doing so until after Christmas so consumers won’t be affected.
â€œWeâ€™re doing this for Christmas season, just in case some of the tariffs would have an impact on U.S. customers, but so far theyâ€™ve had virtually none,â€ he said.
â€œThe only impact has been that weâ€™ve collected almost $60 billion from China, compliments of China, but just in case they might have an impact on people, what weâ€™ve done is weâ€™ve delayed it so that they wonâ€™t be relevant for the Christmas shopping season.â€
AsÂ The National Sentinel reported Wednesday, a raft of new economic data shows that China is suffering more from the trade war than the United States.
Unemployment in Chinaâ€™s urban centers is far higher than it is in the United States, and it is rising: 5.3 percent, compared to the national unemployment rate in the U.S. under the Trump administrationâ€™s economic policies of 3.7 percent, a level most economists believe represents full employment.
Chinaâ€™s manufacturing sector alone, the WSJ noted, has shed more than 5 million jobs this year, with anywhere from 1.8-1.9 million of them â€“ nearly 40 percent â€” due to the ongoing trade war with the U.S.
So, while China is shedding jobs in its manufacturing sector as a result of the trade war, the United Statesâ€™ manufacturing sector has beenÂ addingÂ jobs: 314,000 new manufacturing jobs since the president took office, or 170 percent more than his predecessor, President Obama,Â accordingÂ toÂ Forbes.
Separately, we reported that one analyst and noted economist believes as solution is at hand, but both sides will have to give a little.
Most importantly, Milton Ezrati, chief economist for Vested, the New York-based communications firm argues, President Donald Trump will have to find a way for his Chinese counterpart, Xi Jinping, to make such a deal and save face with his people.
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