Dan Strieggl and his son Issac inspect new farm equipment at the 2018 Farm Progress Show in Boone, Iowa, U.S., August 28, 2018. REUTERS/Jordan Gale
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The Bella Vita luxury condominium tower rises 20 stories over the boomtown of Luis Eduardo Magalhaes in northeastern Brazil.Local soybean producers shell out upward of a half-million U.S. dollars to live in the complex.Around 8,000 kilometers to the north in Boone, Iowa, farmers are hunkering down.A growing trade war between the United States and China is reordering the global grains business.In response to tariffs on Chinese goods from the administration of President Donald Trump, Beijing this year imposed levies on U.S. agricultural products.Among them was a 25 percent tariff on soybeans, the single most valuable U.S. farm export.U.S. growers sold $12 billion worth to China last year alone.Many American farmers, overwhelmingly conservative voters who helped propel Trump to the presidency, are standing by their man.Nearly 80 percent of Brazil's soy exports now head to China.Farmers here also are bullish on this month's presidential election in Brazil.Like Trump, Bolsonaro, is wary of China.
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