The trade war with China affects the US economy differently. In the short term, you will find both winners and losers, depending on the industry. The clearest losers right now: the farmers in Iowa.

The state is the United States' largest producer of soybeans. China is the largest export market, and its response to US trade tariffs has been to curtail US imports. The farmers here are on their knees.

Dave Walton's farm in Wilton, Iowa, receives half of his proceeds from the sale of soybeans. Photo: Mikael Eriksson / SVT

Agriculture takes a beating

- There will be a large surplus of beans, almost 30 million cubic meters, which pushes the price. We pull in on what goes into us. You have to keep an eye on your household expenses, says Dave Walton, whose farm in Wilton, Iowa, half received his income from the sale of soybeans.

Several interest organizations representing agriculture have warned that the free trade agreements that have been neglected will affect the farmers negatively. The American Farm Bureau criticized Trump for tearing up the TPP FTA, but was pleased that his renegotiation of Nafta to the USMCA (which is awaiting a vote in the House of Representatives) maintained and expanded American agriculture's ability to sell without barriers to trade to the North American neighbors.

The American Soybean Association is afraid Trump will tear up a free trade agreement with South Korea.

A majority of farmers believe that the trade war with China will eventually benefit them. Photo: Mikael Eriksson / SVT

Strong support for the trade war

Despite the increased pressure on the peasants now in the course of the trade war with China, their support for Trump does not seem to fail. In various measurements, there is still a large majority in the group that thinks he is doing a good job.

And according to the latest Purdue University Center for Commercial Agriculture barometer, 78 percent of farmers believe that the trade war with China will ultimately benefit them. Just like Robb Ewoldt, who runs a farm outside Davenport, Iowa.

- Honestly, Trump is now doing what should have been done 25 years ago. It's a bad host to take.

Robb Ewoldt loses large sums of money during the trade war, but still supports President Trump. Photo: Mikael Eriksson / SVT

Billion support to the farmers

Robb Ewoldt estimates he will lose $ 60,000 this year because China has fallen out of the market. That means he will be at a loss this year. Admittedly, President Trump has pledged $ 28 billion in targeted aid to the peasants affected by the trade war. But Dave Walton doesn't think it will be enough to cover the loss.

- I estimate that it will replace half of what we lose from the disappearance of China from the market for us.