How Trump’s Trade War Is Hitting Illinois Businesses
The U.S.-China trade war kicked into gear back in March 2018, and it’s been having a big impact on Illinois business across a number of industries.
Adding to the problems some business owners face are the escalating trade tensions between the United States and the European Union.
Soybean farmers in the state have lost $1 billion since China imposed a 25 percent retaliatory tariff on U.S. soybean exports. Illinois is the nation’s top soybean producer, and that billion dollars means exports have dropped by half since last year.
Spirits distillers are also feeling the pinch. A number of Chicago-area distillers say they are taking their products to new markets away from China and the EU to stay solvent.
Meanwhile, the results of the trade war on the steel industry are a mix of good and bad for metal manufacturers.
Morning Shift digs into how the Trump administration’s trade policies are affecting industries and businesses in Illinois.
GUEST: Alexia Elejalde-Ruiz, Chicago Tribune business reporter
LEARN MORE: One Year Into A Trade War With China, Illinois Whiskey, Soybeans And Metal Still Caught In The Crossfire (Chicago Tribune 4/12/19)