Market turmoil this week was caused in large part by President Trump’s additional tariff announcement, followed quickly by China’s announcement that it was officially terminating all purchases of US agricultural products. The loss of sales to China was called “devastating”, “crippling”, and “a very big deal” by agricultural experts. So how big is the Chinese market for US ag exports? Big, but surprisingly not the biggest, or even second biggest – it is (or was!) the fourth largest market for US ag exports last year, as shown in this chart from CNBC.
How big is the Chinese market for US Ag exports?
| August 12, 2019