Investors aren’t the only ones eyeing another round of trade talks kicking off between the U.S. and China this week. Farmers and ranchers in the Heartland are also watching, as many struggle with losing out on export sales as a result of ongoing tensions between the world’s two largest economies.
“We as pork producers are getting somewhat weary here. As we hear of trade talks, we have delegations meeting — the market goes up, and then nothing materializes. And we end up going back down. We feel like a yo-yo at this time,” Dean Meyer Iowa pork producer and Iowa Corn Growers Association Director, tells Yahoo Finance’s YFi PM.
Farmers can now sign up for the USDA’s Market Facilitation Program, which gives financial aid to those impacted by the retaliatory tariffs. Meyer, who has been farming for 35 years, explains government funds like this help ease the bleeding, but it’s not a long-term solution. “In rural America here it does affect main street. Our towns rely on agriculture, pork production, beef production, soy, and corn production here. And when we hurt, the whole community is hurt,” he said.
Ultimately, Meyer hopes some type of resolution can be reached during the face-to-face discussions in Shanghai. “We just need stabilization. Our desire here on these trade talks is if we can’t get a full trade agreement is to just get relief on these tariffs so we can have free and fair trade and pork production here with the Chinese,” Meyer said.
McKenzie Stratigopoulos is a producer at Yahoo Finance. Follow her on Twitter: @McKenzieBeehler