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Thread: Trump's tariffs do a number on farmers

  1. #1
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    Default Trump's tariffs do a number on farmers

    Hmmm.. I thought trade wars were easy to win... isn't that what the Donald told us?

    Hard times for farmers got tougher with President Donald Trump’s trade war. Now Midwestern farmers are filing the highest number of bankruptcies in a decade, according to a Wall Street Journal analysis of federal data.And farmers aren’t hopeful about this year.

    Twice as many farmers in Illinois, Indiana and Wisconsin declared bankruptcy last year compared to 2008, according to statistics from the 7th Circuit Court of Appeals, the Journal reported. Bankruptcies in states from North Dakota to Arkansas leaped 96 percent, according to figures from the 8th Circuit Court of Appeals.

    Farmers are being battered by sinking commodity prices — and stiff tariffs from China and Mexico in retaliation for Trump’s tariffs on imports.

    The new 11-nation Comprehensive and Progressive Agreement for the Trans-Pacific Partnership (CPTPP) treaty last year slashed tariffs — but not for U.S. farmers since the Trump administration pulled out of negotiations. That drove customers to farmers and ranchers in competitive countries, like Australia, serving another dunning blow to American operations.


    Farmers fear it will take years to rebuild those trading relationships.

    According to figures from the U.S. Agriculture Department, farm income last year was about 50 percent of what it was in 2013, the Wisconsin State Farmer reported.

    The dairy industry was hopeful about meeting growing demand in China, but now trade is a major stumbling block. “The problem is that both nations have stubborn leaders,” Mark Stephenson, director of dairy policy analysis at the University of Wisconsin at Madison, said at an agricultural forum last week in Madison.

    Soybeans were also a major victim. “Agriculture prices live and die by exports. In all commodities, we’re heavily dependent on China, especially for soybeans,” Kevin Bernhardt, agribusiness professor at the University of Wisconsin in Platteville, told the Milwaukee Independent.

    Government subsidies to farmers were up 18 percent last year over the previous year, due to the $4.7 billion in tariff aid and $1.6 billion in disaster payments for farmers impacted by hurricanes, floods and other disasters. But it wasn’t enough to stave off the end for some.
    "Reason and facts are sacrificed to opinion and myth. Demonstrable falsehoods are circulated and recycled as fact. Narrow minded opinion refuses to be subjected to thought and analysis. Too many now subject events to a prefabricated set of interpretations, usually provided by a biased media source. The myth is more comfortable than the often difficult search for truth."







  2. #2
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    Default Re: Trump's tariffs do a number on farmers

    I hope they voted for him, as then I'd feel no sympathy
    How do we form a mutiny? Our new captain is navigating poorly.

  3. #3
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    Default Re: Trump's tariffs do a number on farmers

    Nearly 70% of farmers voted for Trump in 2016.
    War is peace.
    Freedom is slavery.
    Ignorance is strength.
    Tribalism is family and extended family.
    Trump is doing beautifully.





  4. #4
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    Default Re: Trump's tariffs do a number on farmers

    Partisan sniping aside, this is not good for any of us. How many of those bankrupt farms are going to wind up under the control of Big Agra now?
    No adversary is worse than bad advice.

  5. #5

    Default Re: Trump's tariffs do a number on farmers

    Perhaps that's the idea.

  6. #6
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    Default Re: Trump's tariffs do a number on farmers

    And I bet they will still vote for him. Jeesh.
    Gerard>
    ​Freeland, WA

    Resistance is NOT futile.

  7. #7
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    Default Re: Trump's tariffs do a number on farmers

    Quote Originally Posted by mikefrommontana View Post
    Perhaps that's the idea.
    Why didn't I think of that, it perfectly fits the whole picture
    Don't worry I'm happy

    "The law is what we have to live with.
    Justice is sometimes harder to achieve."

    Sherlock Holmes

  8. #8
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    Default Re: Trump's tariffs do a number on farmers

    Wendell Berry saw this coming in the 70s and 80s, and wrote about it a lot. This is just the latest round of something that's been going on since the mid-20th century. Very few are paying attention to what it means, and will mean. Small diversified operations that rely less (or none) on exports would have been more resilient than commodity crops, but those small diverse farms are largely a thing of the past.

    Tom
    You don't have to be prepared as long as you're willing to suffer the consequences.

    www.tompamperin.com

  9. #9
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    Default Re: Trump's tariffs do a number on farmers

    Quote Originally Posted by Figment View Post
    Partisan sniping aside, this is not good for any of us. How many of those bankrupt farms are going to wind up under the control of Big Agra now?
    China is buying up Ag business. They bought one of the largest pork producers, sending the slaughtered animals to china for processing then importing it back here for sale.

    Laws about cleanliness and cruelty are slack in PRC.

    Chinese-owned pork producer qualifies for money under Trump's farm ...

    https://www.chicagotribune.com/.../c...al-bailout-201...
    Oct 23, 2018 - Smithfield Foods, a Virginia-based pork producer acquired in 2013 by a Chinese ... it will buy $1.2 billion of surplus food from farmers for distribution in food ... Lombardo also said that Smithfield is a U.S.-based company that
    PaulF

  10. #10
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    Default Re: Trump's tariffs do a number on farmers

    Quote Originally Posted by mikefrommontana View Post
    Perhaps that's the idea.
    a feature, not a defect.

  11. #11
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    Default Re: Trump's tariffs do a number on farmers

    China has a problem with diseased pigs. It should take 5-6 years to clear up. Until then they will be buying fewer soybeans. That means prices will remain low despite tariffs.
    Life is complex.

  12. #12
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    Default Re: Trump's tariffs do a number on farmers

    Quote Originally Posted by Figment View Post
    Partisan sniping aside, this is not good for any of us. How many of those bankrupt farms are going to wind up under the control of Big Agra now?
    Well then, things are going according to plan, aren't they?

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