also making a controversial visit to china. david culver is following both stories. david is live in shenzhen, china. let s start with the trade war. the president calling it good news for american farmers. what does it mean for china, as well? reporter: calling it unbelievable, george, for the american farmers. he has repeated that line over and over, including at the campaign-like rally you saw in louisiana from last night. he says this is substantial, and it includes $40 billion to $50 billion of agriculture purchases from china, mostly of soybeans and pork. to your question of, what is china getting out of this? for one, making those purchases is crucial for them. they have had this pork shortage here for the past year or so because of the african swine fever that s decimated about 1/3 of the pig supply. this is something they desperately need. and they are going to be benefitting from a lack of increase in tariffs. the tariffs were supposed to go
into a river. check out this time lapse video, this comes out of australia. you can see things start off dry enough as they say when it rains, it pours. it s not long before the tracks completely covered. destroying homes, cutting power, causing millions of dollars in damage. time to check some of your consumer headlines. the cost of rent soaring nationwide hitting san francisco the hardest. prices there now averaging $3,000 a month. that is up nearly 16% from last year. a bird flu outbreak could spell trouble for thanksgiving. it s going to sell fewer of the turkeys this year. it s lost more than two million birds due to the flu. testing customer loyalty. set to raise prices of beef by 6%. the hike coming amid an ongoing pork shortage.
and protein to help protect, preserve, and promote muscle health. keeps you from getting soft. [ major nutrition ] ensure. nutrition in charge! arthel: okay. dietary restrictions aside you will be hard-pressed to find somebody that does not love bacon but it could soon cost you a whole lot more. julie banderas, bacon is a really good friend of mine. i don t like this story. reporter: i m sorry to rain on your parade today. a global bacon shortage? that is what britain s national pig association says meat eaters should expect next year. high pig feed costs are being blamed for what the organization will be unavoidable bacon and pork shortage, creating worldwide decline of pig herds. apparently the cost of bacon has doubled since 2006 and record droughts are not helping either. with less people eating bacon unwilling to pay high prices the lack of demand is hurting farmers. but perhaps more dramatic
that s what the people wanted and that s fine and mitt romney says the same thing to nick lehm lehman. i think about what i want to do, try to communicate that as well as i can and if they vote for me, fine. if they don t, then fine. that s what it is. he doesn t need to win like clinton and obama needed to win to validate themselves. all right. and now one of the classic awkward segues, talking about bacon. it s getting tougher and more expensive. we are talking about actual bacon here. not the figurative stuff we talk about in politics. u.s. has a looming pork shortage thanks to this summer s drought driving up the cost of feed to hogs and cut the number of pigs that farmers raise. next year, a 12% drop in pounds of bacon per american and the cost could rise by more than a dollar a pound and not stopping red blooded americans. i would pay double that for bacon. enjoy it when you can and the sausage and the pork chops.
making and this is the first question i m going to ask president clinton at the clinton global initiative. from the l.a. times, a world shortage of bacon. oh, no. next year is now unavoidable. let s go stock up on bacon. we will talk to bill clinton coming up at cgi and i ll ask him about obesity and he will see it as one of the key issues. our country s national security and health. i m willing the first question is the last question. i ve interviewed him on this before. he s really good on it. i m sorry, it s terrible, i have a problem. i ll be in to see how the president addresses the pork shortage at the u.n. today. he ll be a lot more concerned about that. right now john favro is redoing the remarks in light of the news. i think you ve got to lead with this. don t you, jon?