China's retaliatory tariffs would hit farmers, who rely on exports to keep their business models going, harder than any other group, especially those raising hogs, nuts and fruit.
One farmer says he has seen hog prices drop to the point where it may cost some farmers more to raise a pig than they can sell it for — and he worries about lower sales.
Grant Kimberly of the Iowa Soybean Association tells NPR that if long term, the effect of China's proposed tariffs on U.S. soybeans could be "devastating" to American soybean producers.
In 1907, America's financial system ran into trouble. Trust in financial institutions evaporated, and contagion swept through the economy. Then John Pierpont Morgan stepped in.