When Tariffs Backfire: U.S. Farmers Funding Argentina’s Soybean Success

to shield its agricultural base, is now effectively funding Argentina’s exports to China—its own economic rival. At the heart of the chaos lies a contradiction. Washington’s tariffs on Chinese goods triggered Beijing’s retaliation against U.S. soybeans, long a staple of Midwest exports. As demand from China evaporated, U.S. farmers were promised relief through subsidies and expanded domestic markets. But the market doesn’t wait for politics. Prices collapsed, silos filled, and farms that had been family-run for generations teetered on bankruptcy. Then came the bailout. The U.S. Treasury, hoping to stabilize Latin American markets and counter China’s growing influence, extended tens of billions in financial support to Argentina—first $20 billion, later ballooning to $40 billion. The funds were meant to prevent a fiscal collapse. Instead, they indirectly financed agricultural exports that replaced U.S. products in the very markets Washington was trying to reclaim. With Chinese ...