Posted on 08/09/2018 5:39:02 AM PDT by mac_truck
A cargo ship carrying American soybean exports has reportedly been stuck in the Pacific Ocean off China for a month after failing to arrive at the country before a 25 percent tariff on the good was implemented.
The Peak Pegasus had rushed to sail from the U.S. to China last month, ahead of the tariff start date of July 6. But The Guardian reported Wednesday that the ship arrived just past the deadline, and has been stuck outside China since.
The ship is owned by JP Morgan Asset Management, while the cargo belongs to global merchant Louis Dreyfus, The Guardian reported.
The trading company is paying about $12,500 a day for the ship to stay near China as executives decide what to do next, meaning it will have paid about $400,000 so far, according to The Guardian.
China imposed the hefty tariffs on soybeans and other American goods, including orange juice, whiskey and lobsters, last month in response to U.S. tariffs on Chinese products.
(Excerpt) Read more at thehill.com ...
It might be cheaper to dump the beans overboard, and come on back home.
So when they say farmers are getting hurt by these tariffs, bear in mind who these ‘farmers’ are: JP Morgan and Louis Dreyfus, huge Wall Street money firms.
So......Are we going to be bombarded with these sob stories from the MSM now?
Any “disaster “ in a storm is good enough for those desperate yo hurt Trump.
You are about to be bombarded with one side, of these sob stories, I believe.
The US media is terribly on the side of the current globalism set-up. Hand in hand, same side.
Trump is challenging that. Be prepared for a RAFT of this sort of nonsense. However you won’t hear about any American companies which open, as a result.
Nope. That will be invisible.
It will all be “doom”, “gloom”. Etc.
It is about to start. The media is COMPLETELY on the side of the same people, who sold out American production.
100%.
The media has a lack of understanding of the real impact and the reason for Trump’s new tariffs as a RESPONSE to existing CHINESE tariff’s on our goods.
And we are not stressing that enough.
Trump’s tariffs are a RESPONSE to their tariffs.
I strongly agree with what you said here.
However, I would go further. The US President is responsible for keeping AMERICA strong.
Not for making companies strong. His primary responsibility is to the country. Many companies are on the other side at the moment.
Just saying.
The fake news media’s top three list of priorities are as followed:
1) Separate Trump’s supporters from him
2) Separate Trump’s supporters from him
3) Separate Trump’s supporters from him
I agree but we are losing the language battle (again) on this issue.
Years ago, when the Canadian government slapped a 270% tariff on our dairy products we should have immediately slapped a 270% tariff on theirs.
But we didn’t do anything, and so now the media is acting like Trump’s tariffs are one-sided, rather than the responsive actions that previous administrations were too weak to take.
I live in a rural area of Pennsylvania surrounded by farms. In the past (every year) the farmers around me planted corn. This year every field has soybeans planted, not corn. Just an observation...
Trump is not previous presidents.
The media cannot get away with propaganda, like they used to. They continue to lose credibility.
Just saying. Americans are ready to say enough. Globalists do not run America.
They don’t. At least, not as much as they used to.
One ship??? The US exports something like 2 BILLION bushels of soybeans a year and the media is fretting over a single ship? Where is my fainting chair. I think I’m getting the vapors.
But what does "The Hill" know about business?!
Soy milk is big in the US. Heck, they don’t even have much soy in that ‘milk’ — bad protein - to - calorie ratio. Why not bring the beans back here and mill out some ‘high protein’ soy milk?
[Better yet — a milk that has no ground sea shells in it.]
A ship can double as storage. Most of the crew could be sent out on unpaid shore leave [or badly needed maintenance]. I suppose keeping a generator going for lights, etc, doesn’t take much power. And I hope there are no taxes on the high seas either.
But frankly, if they don’t want the soy beans, we consume a lot here in the US.
BTW — great factoid. 2 billion bushels?
In this case...yes!
I live (part time) in rural Michigan and here, the farmers plant both soy and corn, as far as I can see. Just a non-professional observation.
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