- Trump administration officials and legislators are thinking of farmers Revenge is waving against American definitions. China and Canada have already imposed duties on some of the best American agricultural exports. During the first period of Trump, farmers received $ 23 billion after a previous round of definitions.
Trump administration officials and legislators have started exploring the relief package for American farmers, as agricultural trade groups warn of economic repercussions of definitions.
This is revenge on President Donald Trump’s sweeping taxes that may harm us exports of agricultural products.
“We are creating the infrastructure that, in fact, we have some economic consequences in the short term of our farmers and perhaps our educators, we will have programs that are applied to solve them,” the Minister of Agriculture, Brock Rollins told reporters last week.
I was told on Sunday CNN The administration should be prepared in the case of “long -term damage” by classifying money with legislators.
Senator John Hoffin (RN.D) confirmed discussions about the farm saving plan and said he had spoken with Rollins.
The US Department of Agriculture did not respond immediately wealth Request to comment.
On Wednesday, Trump announced a 10 % tax on all imports and even high rates of commercial partners. Some countries have taken revenge on their fees against specific industries.
On Friday, China – a major export market for farmers – declared a 34 % tariff on US imports. duty A 15 % added tariff on chicken, wheat, corn, cotton and 1 % on the sorghum, soybeans, pork, beef, seafood, fruits, vegetables and dairy products.
In addition, Canada imposed 25 % duties on the value of the goods 30 billion dollars Including peanut butter, orange juice and coffee. The country also threatened to expand the scope of definitions to 155 billion dollars Imported goods, including poultry, products and dairy products, are due if the United States maintains its commercial policy. The European Union threatened revenge on soybeans, beef and poultry in the mass efforts to target the red countries.
Commercial groups have warned that the reprisal tariffs on American agricultural exports can harm corn, soybeans, cotton and other crops. The price of soybeans drowned more than 3 % on Friday and about 17 % decreased a year ago. Nearly 60 % of soybeans, meal and soy oil produced in the United States are exported.
“We hope that there will be a rescue plan,” said Barry Evans, a farmer of chore and cotton in Texas, who sits on the Board of Directors for a commercial group for high grains. Wall Street Magazine. “If we don’t get something, you will be completely disaster.”
The agricultural industry depends on exports for more than 20 % of its annual income, according to the US farmer’s office.
In 2024, the United States was exported 176 billion dollars In agricultural products, with 47 % go to three countries: Mexico (17.2 %), Canada (16.1 %), and China (14 %). According to US Department of AgricultureSoybeans, livestock products, nuts tree, fruits, vegetables, grains, and feed are among the best American exports.
The definitions in the first period of Trump led to a revenge that caused a reduction in more than 27 billion dollars in agricultural exports, according to what he said. US Department of Agriculture. The government gave farmers $ 23 billion in economic aid to help compensate for a loss.
Revenge definitions add obstacles to an already struggling industry. Last year, Congress agreed A 10 billion dollar relief package For farmers to help reduce the impact of increased input costs and low basic commodity prices and recently started to get rid of aid. The Congress assistant told WSJ that the new package may be greater because the industry faces widespread challenges.
“We are sharing the administration’s goal of settling the stadium with our international partners, but the increase in customs tariffs threatens the economic sustainability of farmers who have lost money on most crops over the past three years,” the head of the farm office, Zabi Duval, told the Wall Street J:
In addition to the impact of revenge definitions on agricultural exports, American definitions can increase imports from prices that farmers pay against equipment, pesticides and fertilizers.
Meanwhile, farmers are also suffering from the Ministry of Governmental efficiency, which dismantles the United States Agency for International Development. In 2020, the United States government was almost bought 2.1 billion dollars In food aid from American farmers.
This story was originally shown on Fortune.com
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