US Soybean Farmers Are Losing Money Due To Trump’s Tariffs As Sales Overseas Go Down 94 Percent
Donald Trump’s like to tout about the economy “he has built,” but he chooses to stay quiet about it when farmers in the United States lose money due to his trade war with China.
According to The New York Times, the latest federal data, which tracked up to mid-October, showed that sales from U.S. soybean farmers to China have dramatically gone down by 94 percent. This is a huge decline for soybean farmers as China is, by far, the world’s biggest soybean importer.
Many soybean farmers came forward to call out Trump for his trade war.
“I’m trying to follow and figure out who the winners are in this tariff war,” said Greg Gebeke, who farms 5,000 acres outside of Arthur, N.D. “I know who one of the losers are and that’s us. And that’s painful.”
Secretary of Agriculture Sonny Perdue said late last month that the Department of Agriculture will not extend into 2019 an up-to-$12 billion aid package that was announced to help farmers impacted by Trump’s policies.
“Farmers are very resilient and adept in making their planning and marketing decisions based on the current market,” Perdue told reporters.
“These facts are known now … So farmers, even under financial duress, will make their best business decision for 2019 without the expectation of a market facilitation program.”
He said the department will continue to look “at market conditions” but saw no need to extend the funds.
So next time you hear Trump touting about his economic numbers just remember, it’s all BS.