According to Yahoo Finance, the White House has announced they will be supplying another $16 billion bailout to American farmers who have been hurt by the U.S.-China trade war. Yet, it seems Trump has created a problem too big to fix with money.
“This trade thing is what’s brought on by the president and it’s really frustrating because he took away all of our markets,” Bob Kuylen, a farmer from North Dakota said. “We live in an area where we’re kind of in the middle of nowhere. It costs us a lot of money — over $1 a bushel to get our grain to markets.”
Losing China, once a major consumer, has been a huge blow to American markets. China is now buying soybeans from Brazil and wheat from Russia.
“All these countries went to different countries to get their grain,” Kuylen said. “How are we going to get the relations back with them to buy our grain again and be our customers?”
He continued, “Our prices are probably as low as I’ve seen them in a long time. We were losing just about $70 an acre just by putting our crop in [the ground] this spring.”
As crop prices plummet without China as a buyer, farm bankruptcies in three large farm regions are at their highest levels in a decade.
Kansas farmer Glenn Brunkow is still optimistic, though.
“Our hope is that the playing field is leveled up and these tariffs on the other side are taken away,” Brunkow said. “We feel like with the technology we have, the advantages we have, we can produce the crops as economically as anyone else in the whole world.”
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