US trade, immigration and biofuel policies hit farmers hard
How'd that voting for the orange fornicate work out for you, farmers?
Even before the specter of a trade war with China and other countries threatened to cost them billions of dollars, American farmers were feeling the squeeze from fluctuating crop prices and other factors that have halved their overall income in recent years.
The threat of counter-tariffs on U.S. farm goods and the impact of President Donald Trump’s other policies on immigration and biofuels, though, have some farmers more worried than ever about their ability to continue eking out an existence in agriculture.
“No matter where you look in ag right now, you see storm clouds on the horizon and some of those are a lot closer overhead than we’d care for,” said Chad Hart, an agricultural economist with Iowa State University.
Trump’s tariff threats earlier this year against China, Mexico, Canada and European Union elicited quick retaliatory measures that depressed the prices of certain U.S. agricultural products, including corn, soybeans, pork. When $34 billion worth of tariffs against China took effect July 6 and China responded with tariffs of its own, U.S. farmers were already feeling the squeeze from lower crop prices, higher land prices and other factors.
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