North Dakota soybean farmers are in turmoil as China ceases purchases due to tariffs imposed by the Trump administration. With soybeans piling up, the risk of bankruptcies looms. Farmers scramble for storage while waiting for trade negotiations to bear fruit.
In a significant move, the US and China have extended their tariff truce for another 90 days, avoiding steep tariffs on Chinese imports just in time for the holiday season. This extension allows retailers to stock up on goods at lower rates, while both nations continue negotiations to address trade concerns.
