It could have been a classic. Bloomberg almost got it right on this headline. If they had only written “Save Nation From Aporkalypse.”
The next round of tariffs—due this week—are not in the interest of Trump or of Xi. To make it easier to claim a small victory, you are going to hear a lot this week about how many boatloads of soybeans China is buying.
Fact is, China needs to buy a lot of soybeans. Half the pigs in the world are in China. Half of those have been killed this year by swine flu. New data today show that pork prices are up 110% from a year ago and that overall CPI inflation is 4.5%.
This is what international trade is for, to help each other when we need it.
JR
