Most American farmers are in full-fledged panic mode after companies in China suspended their use of U.S. agricultural products in response to tariffs imposed by the Trump administration on Chinese goods.
Row-crop farmers of traditional products such as soybeans are harder hit by uncertain global markets and falling prices, and many have shown they are ready to move toward growing more profitable alternative crops, according to Bob Hoban, president and founder of Denver-based cannabis law firm Hoban Law Group.
The Chinese tariffs are the last straw, he told Hemp Industry Daily.
“I see the tariffs that have been imposed as it relates to China as a very beneficial thing for U.S. hemp farmers, or at least for U.S. farmers that would like to pivot to industrial hemp,” Hoban said.
Read the full article on hempindustrydaily.com.