Washington and Beijing are locked in a trade dispute. But they aren’t the only ones forced to grapple with the consequences.
In Colombia, some economists fear the fall-out could negatively affect the country’s economy.
CGTN’s Michelle Begue explains the potential impact on the country’s agriculture sector.
Colombia is the second largest consumer of rice in Latin America. And the country’s production meets its consumption needs.
The country has a free trade agreement with the United States – a strong rice exporter. Colombia’s Rice Federation has been working hard to lower production costs and increase productivity with technology to compete with the low prices of U.S. rice imports.
But as the U.S.- China trade war continues, U.S. producers are exploring other markets.
Colombia’s rice federation worries the U.S.’ highly subsidized agricultural produce will be pushed onto Latin America. One economist worries about the ripple effects of the U.S.-China trade war on the overall U.S. economy which could also impact Colombia.
Colombia’s rice farmers reached record levels of production and even had enough to export for the first time in their history. But a drop in the price of rice last year brought on a crisis. Despite challenges and the uncertainty to come, Colombia’s rice farmers remain optimistic.