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U.S. soybean farmers in 'limbo' as China's tariffs hit outbound freight markets at peak

Nov 09, 2018 at 09:47 AM CST
While U.S. inbound freight volumes may be a beneficiary of the U.S. and China trade war, the tariff fight is taking its toll on outbound freight at the peak shipping season for grain. Speaking at an investor conference this week, Union Pacific (NYSE: UNP) chief financial officer Rob Knight said the railroad is seeing lower volumes of grain carloads in the fourth quarter. Not surprisingly, Knight attributed the slowdown to China’s imposition of 25% duties on U.S. soybean imports in July.