Tuesday, May 14, 2019

Trump's Trade War Leaves Mid-West Farmers Reeling

The unkind part of me struggles to have much sympathy for Mid_West farmers who helped put Trump in the White House as they watch their führer pushing trade tariff policies that are wreaking havoc on their financial survival. They are, after all reaping what they sowed, motivated by racism and a war against modernity itself. The kinder side of me, feels sympathy for the children and youth who are suffering as a result of their parents' bigotry and overall idiocy.  Frighteningly, rather than admit his tariffs have been a failure, Trump wants to give a bailout to farmers and shift the costs of his failure to the rest of the American taxpayers.  One can only hope that the Democrat controlled House of Representatives rejects any such handout to farmers and that they are left to live with the consequences of their voting for an unfit candidate.  Actions do need to have consequences. NBC News looks at the growing plight of Trump supporting farmers.  Here are article highlights:
WATERLOO, Ill. — As Tim Bardole surveyed his farmland, the soil too wet to plant corn or soybeans because of a recent downpour, he remarked that there are few rays of hope for most American farmers these days. While the weather continues to hamper the planting season, the news over the weekend that the United States and China had only moved further away from a trade deal was seen by the farmers as another blow.
Bardole runs a 2,400-acre farm near Rippey, Iowa, with his father, brother and son. This time last year, they figured the trade dispute between China and the U.S., which had already created an economic nightmare for farmers, would be over by harvest time in the fall. Now, it appears there is no end in sight.
"We just keep hunkering down and doing what we can to reduce costs as much as possible, and digging into reserves, and borrowing more money and using up equity," Bardole said over the phone, adding that the entire industry is doing the same.
China announced Monday that, beginning June 1, it would impose tariffs on $60 billion of U.S. goods. That caused stock markets in the U.S. to tumble, and left farmers to face a future that looks financially bleaker than the historically tough years they have recently faced.
Because of the Trump administration’s trade tactics, the Congressional Research Service concluded in a report published in December that national net farm income dropped by more than $9 billion, or 12 percent, in 2018.
Things looks like they could get much worse as the trade dispute continues.
With the most recent news of the intensifying tensions between the U.S. and China, the price of soybeans has dropped below $8 a bushel for the first time since 2008, which comes as many Midwest farmers are facing rampant flooding on their land during the planting season.
Despite the financial strain that farmers have been enduring while the White House’s trade war continues, many had remained committed to the president and his negotiating tactics. Most farmers tend to agree that China is not an equal trading partner, so the common refrain is that they are willing to suffer short-term pain for long-term benefits.
But after years of hardship, confidence in Trump’s negotiating tactics has begun to waver among some of his most ardent supporters.
Kenneth Hartman, a fifth-generation farmer in Waterloo, Illinois, said he’s long been a Trump supporter . . . But, he added, farmers also need free trade and open markets or else the agriculture community will continue to erode. More than 160,000 farms in the U.S. disappeared from 2007 to 2017, according to the USDA Agriculture Census released in April.
Whether falling confidence in this particular trade negotiation will diminish Trump’s very solid backing among farmers overall, however, remains unclear.

No comments: