trade war | St. Louis Public Radio

trade war

The corn and soybeans growing in Glenn Brunkow’s fields in the rolling Flint Hills north of Wamego, Kansas, got some much needed rain recently and look healthy.

Brunkow has reason to expect a good harvest, but the way things are looking globally, he’ll lose money on the crop. Trade disputes with China, Mexico and Canada threaten to slash U.S. food exports by billions. About half the soybean crop goes overseas, most of that to China — and since mid-April, soybean prices have plunged about 20 percent and corn about 15 percent.

close up of nail heads
Flickr | Ed Ivanushkin

Mid Continent Steel and Wire, a nail manufacturer in Poplar Bluff, Missouri, has been at the center of a media blitz after its plight was publicized by Sen. Claire McCaskill, D-Mo., in front of Commerce Secretary Wilbur Ross at a Senate committee hearing last week.

Since the hearing, Mid Continent, alongside household names like Harley-Davidson, Inc., has been declared a likely casualty of the Trump administration’s protectionist trade policies — specifically steel tariffs.

The company, which manufactures 50 percent of the nails made in the United States, laid off 60 of its 500 employees and shuttered a production plant last week.