How Trump’s Trade War Costs Farmers
"It is a punch in the gut." President Trump's trade war with China is heating up — and farmers are paying the price.
Bracing for deeper pain from his trade fight with China
China has stopped buying U.S. farm products — a retaliation against President Trump’s plan to put new tariffs on $300 billion of Chinese goods. Now, this is costing American farmers. Trump's move is the latest escalation in an ongoing trade war, which started in July 2018. An official of China's top economic planning body had insisted that Chinese companies have purchased millions of tons of soybeans, sorghum, wheat and other farm goods since the end of June, Trump's tweets to the contrary notwithstanding.
In 2017, China bought $19.5 billion in U.S. farm products — that dropped by more than half, to $9.1 billion, in 2018 based on data from the USDA. Soybean farmers have been especially hit because China is their biggest customer — buying 60% of U.S. soybean exports in 2018 according to the U.S. Census. In May, the Trump administration announced a $16 billion aid package for farmers and Trump promised more after Beijing’s announcement. Speaking to state media, Cong Liang, secretary-general at the National Development and Reform Commission, was responding to Trump's complaint that China has reneged on its pledge to buy from U.S. farmers. Some 2.27 million tons of American soybeans were shipped to China from the end of June to the end of July, according to Cong. Another 2 million tons are to be loaded this month, he said.
Despite no trade deal, most farmer still back Trump. His overall approval rating among farmers is at 79% as of July 2019 based on a published report from the Farm Journal Pulse survey. As President Trump maps out his re-election bid, farmers in this battleground state are backing him even with the U.S. Farm Belt bracing for deeper pain from his trade fight with China. The U.S. and China are set to continue trade negotiations in September 2019.
Brut.
168 comments
Aldo L.
09/29/2019 20:56Keep voting for him they deserve it of you voted for trump don't complain
Javi M.
09/28/2019 22:30Trump is a little MC PUTO.. lol
Thelma B.
09/27/2019 09:13You get what you voted for! Never my President
Stephen S.
09/24/2019 23:50The Chinese brought this trade war upon themselves. Now we finally have a president with a backbone that is taking them on. We purchase their products while they challenge us militarily. We are paying for their military! Wake up people!
Victor T.
09/24/2019 18:16Trump wanted to get rid of farmland anyway. No more migrants, no more farms. Pay attention ppl, your boss only wants money. Modern day slavery, ask his wives.
Hasan K.
09/23/2019 22:09The Blind Leading the Blind 45 has no clue what The heck he is Doing Building a House and Taking care of a Country you Don't Need a scientist To figure this out
Daniel W.
09/23/2019 12:17fake news we have everything here we need and soybean I seen them cover that up with dirt all week to plant marijuana plants over 100 acres or more in pine Island
Michael F.
09/23/2019 01:51Remember there winning...🤣
Jonathan R.
09/22/2019 12:11God bless president Trump 2020 landslide win maga make liberals cry everyday love it ...
Chev C.
09/22/2019 06:59Dear farmers you have elected your president.so now you have deal with the consequences of your own decisions.
Roy Z.
09/22/2019 02:03Shares are cheap. Buy in now.
Rocky C.
09/21/2019 03:05You are so full of lies you only care about yourself pos
Steve C.
09/21/2019 01:51Go Trump MAGA
Red V.
09/20/2019 01:48Remember who's paying for the wall?, We tax payers!.
Red V.
09/20/2019 01:47You voted for Trump?, This is what you get!.
Jose P.
09/20/2019 01:45Ojala y entiendan los agricultores y nunca mas crean en mentiras
Charles R.
09/19/2019 23:54Trump 2020
Zechariah L.
09/19/2019 15:54Is American farmers have taken handouts and subsidies for years from our government they have taken our tax dollars now they have a problem because they're not selling their goods to China they can take a loss for a while to make America better these American farmers are so greedy they're willing to kill their neighbors just to get there crappie in still spray hazardous chemicals all over their crops and feed them to the world yeah the American farmers the hero all right I'm not talkin all farmers I'm talking most of them the ones that are in it for the money and greed and subsidies f*** them
Jeff K.
09/19/2019 14:00Just like Mexico paying for that wall
Randall R.
09/19/2019 12:38Farmers supporting Trump are on Welfare now and like it, after all they've been price fixing for years that's not free trade so this is just deserts :):)