MOLINE, Illinois - There's a reason why China is targeting agriculture. It impacts a lot more people than you may think.
Investment Advisor Mark Grywacheski appears on Good Morning Quad Cities every Monday to talk about "Your Money." On Monday, April 9th, he said China is targeting agriculture as well as the U.S. automobile industry and airplane manufacturers, because those are the three largest U.S. imports to China.
He adds that these tariffs will not only impact farmers, but even businesses associated with farming:
"I think it's reasonable to expect deeper and more expansive tariffs on U.S. agriculture products, but also additional tariffs on U.S. manufacturing in equipment industries," he explained.
That's why he said Deere shares lost 3.94% on Friday alone. Caterpillar shares lost 3.49% on Friday as well. However, Mark said he expects those stocks to rebound this week as volatility in the stock market continues. To hear what he has to say about that, click here.