Business Trends INTERNATIONAL TRADE


Trade war wounds Virginia industries feel the effects of tariffs


The U.S.-China trade war has been “devastating” for soybean farmers, says Mecklenburg County farmer John Wesley Boyd Jr., founder and president of the National Black Farmers Association.


by Richard Foster I


n nearly 40 years of farming, Mecklenburg County soybean farmer John Wesley Boyd Jr.


has seen commodity prices go up and down, but the recent impact on his business from the ongoing U.S. trade conflict with China has been “devastating,” he says.


Photo by Mark Rhodes “We’re in trouble. … The


prices have d ropped dramati- cally and we don’t see any end in sight,” says Boyd, who is also the founder and president of the nonprofit National Black Farmers Association. “It’s planting season, and President Trump announced


… some additional tariffs, and we haven’t gotten over the effects of the first ones, you know? … I think a lot of farmers are going to be on the auction block.” The price of soybeans, which


peaked in 2012 at $17.58 per bushel, plummeted to below $8


www.VirginiaBusiness.com VIRGINIA BUSINESS | 49


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72