Erin Cork
The trade war between the US and China has created major tariffs across multiple industries. A tariff is a tax on a specific good that is put in place by one country on another. Generally what happens is that once this product gets taxed, it starts selling a fewer items and at lower prices. The soybean tariff was especially bad for Midwestern farmers because China bought 85% of all US soybeans, and then they stopped as a result of the disruption's tariffs. This caused an economic crisis for anybody who was relying on that income to stay afloat. The US bailed the effected farmers out but that doesn’t work for everything and farmers still felt pain from the actions of the two governments. Our research analyses how exactly farmers were hurting and how much, that way if something similar happens again people would know how to help farmers out faster with less pain all around.
Duration: 08/11/2019
Principal Investigator(s): Dr. Shuyang Qu