The Impact of Trump’s Tariff Policy on Food Security for BRICS States

... example, a guarantee for the purchase of 2 million tons of wheat, reorientation of export flows, and targeted fiscal measures domestically) with subsidies to Indonesian farmers. Overall, this gives a chance to limit the macroeconomic damage done by tariffs (reaching around 0.05% of GDP) and prevent the further deterioration of food security for vulnerable population groups. It is not that easy for U.S. customs duties to “bend” the Celestial Empire. The United States accounts for about 5% of China’s total agricultural exports. Washington’s tariffs of 10% and 55% would ...