Back in December, Trump tweeted how farmers were gonna be the big beneficiary of his amazing trade deal with China. I guess, back then, in that tiny slice of a moment, farmers took a breath of relief. They must have thought, according to his tweet, that the damage Trump had already reaped upon their farms was about to be rectified. If only those Trump supporters knew that Trump’s destruction of the farming industry was about to get much worse.
Trump touted himself as the great negotiator. Back in the campaign, Trump convinced a third of America (uneducated), that America needed a businessman to wheel and deal good foreign trades. During the campaign, Trump promised America that we wouldn’t be taken advantage of anymore. At the time time, farmers across the country were passionately applauding Trump’s promises to slap tariffs on foreign goods. Sure, that sounds great. But I guess they never thought of the ramifications.
When he became president, he imposed tariffs on many products including steel and aluminum from most countries. Even allies such as Canada were slapped with the tariff.
Of course, the world struck back with tariffs of their own.
No one wins from a trade war, except the politician who imposes them. Even that victory is short lived.
According to the Minneapolis Star Tribune, between July 17 and June 18, 84 farms in the upper Midwest filed for bankruptcy. Farms with corn, soybean, milk and beef were devastated by the low prices the tariffs forced them to implement as well the low demand for their products.
In fact, Trump’s tariffs destroyed the farming industry so effectively, that the Trump administration had to give out $12 billion in aid to farmers and then in September another $25 billion for struggling farmers. I’d like to track that money and see where it went. VOX
Trump’s half-ass tariff idea was based on the elementary assumption that the imposition of massive tariffs would make foreign products cost more, which would compel Americans to buy domestic products. The results have been horrifying. Not only agriculture, but foreign reaction to Trump’s tariffs, have crippled various industries.
The nation’s auto dealers expect higher prices and lower sales of new vehicles if President Donald Trump imposes a 25% tariff on all imported vehicles, according to a new survey of dealer sentiment conducted by Cox Automotive. Forbes
Despite the pain already reaped, its about to get a lot worse for farmers. Ironically, Trump will continue to slaughter his Midwest biggest supporters. Trump’s 2020 budget calls for a 15% funding drop for the Department of Agriculture. According to the budget, “overly generous” subsidies for the agriculture industry needed to be curtailed.
It is doubtful that Trump would be in the White House if not for the Midwest bible-thumping farmers. As a result, despite Trump’s damaging legislation, he still is able to maintain their affection.
In speaking at the American Farm Bureau Federation’s conference in January in New Orleans, Trump said that he was “proud to be a great friend of the farmer, of the rancher” and those in that profession. Bloomberg
Turns out Trump’s biggest supporters during the campaign are the ones his legislation has hurt the most. Ain’t irony a kick in the ass!!!???