Transcript for Farmers in Iowa talk about fear factor of tariff threats from China
The stk market ended arply lower Friday as wall Street Rea to the growing prospect otrade war between the United States and chin E president pred $50 billion in tariffss week, only to Aten another 100 billion days lat Chinese in return have pledged to couattack with greangth. President trump twee ts morning that he believes the threats will end with China, quote,ing down its trade barriers because it sight thing to but if they don't, consumers coulfeel price increases O hundreds of goods as a result affected by's threatlevy its own tariffs pork and soybeans. We traveled west this week to get nse of how Americans are reacting to the rising tensions. Far from the noisewashington and on Wall Street are Tront lines in the tariff skirmi, it's farmers likthe fischers in neola, iothat stand to lose a lot if inese retaliate. I work hard on soybeans, some small grains and hay. Rter: The escalation of E tariff tiff could hardly T a worse time. Our planters ll be rolling in the next two eks and farmers can't make many change now. The pretty much locked in. So tell mhow China fits into all this. Well,na has become a huge buof pork and ybeans and there the two areas that have reciprated their response to the tariffs and pork prices have droppeout a third since January. Rte I first met the fischers 3s ago when Ty were trying Toure out who vote for in the 1988 presidentipaign. Can't see where either -- anndidate is showing emself as being electable. Reporter: Mard hn have voter both Democrats and Republicans. Toda's not candidates, but crops I want to hear their perspective you understand that LE is risky and somemes you're the target. And you hoou're not and you hope it doesn't a long time if you are the target bu sometimes you get hit. Reporter: Johes fear on the horizon. Ou hear the stories of smoot-hawley, the tarif, and how that contributed or ybe deepened the great depression so is this what's hang now? Is that the beginnof a period of difficult times. We're to the T in our lives where we're pretty wel settled and wee financially cure, but you do- you do have concerns about the next neration and hhey will manage this. Reporter: Of paular concern, her sons and in-law antheir friends who want to keep farming. The economics orming are challenging right nod these tas certainly won't be helpful. My wife were talking about the dreams of buying our own farm, buying your own land and, you K it's terrifng tond -- you know, drop a million dollar investment. Do yoink it will affect the midterut here? Conomic consequences end up haviolitical conseces so I'm it's in everyonbest interest politically for the onomy to be strong and to be stable. Wl Y attention. I mean it's Iowa. We pay attention to elections,
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