How Tariffs and the Trade War Hurt US Agriculture
Agriculture has always been a vital component of the United States economy. It is a source of food, income, and employment for millions of Americans. However, the industry is currently facing a rough patch due to the ongoing trade war with China and other countries. The tariffs imposed by the US government on products ranging from soybeans to potatoes have caused significant damage to farmers across the nation.
The Sad State of US Agriculture
The state of US agriculture is currently dire. The industry has been struggling with low commodity prices for several years, and the trade war has made things worse. Many farmers have been forced to file for bankruptcy, and some have even had to sell off their land. The decline in agriculture is also having a ripple effect on other industries, such as machinery manufacturers and transport companies.
The Impact of Tariffs on Farmers
The tariffs imposed by the US government have had a severe impact on farmers. China was once the largest market for US agricultural products, but since the trade war began, Chinese buyers have turned to other countries. This has resulted in a surplus of products such as soybeans, which has driven prices down. Farmers have also had to pay more for imported goods, such as machinery and chemicals, due to retaliatory tariffs imposed by other countries.
How the Trade War is Hurting our Crops
The trade war is having a detrimental effect on US crops. Many farmers rely on exports to make a living, and the tariffs are making it difficult for them to sell their products overseas. This is causing crops to pile up and prices to plummet. Some farmers have even had to leave crops in the field because they cannot afford to harvest them.
From Soybeans to Potatoes: A Look at the Damage
The impact of the trade war on US agriculture is widespread. Soybeans, the second-largest US crop, have been hit particularly hard. China was once the biggest buyer of US soybeans, but in 2018, imports from China dropped by 82%. Other crops, such as corn, wheat, and pork, have also been affected. In addition, the tariffs have had an impact on specialty crops such as potatoes, which are subject to a 10% tariff in Mexico, the largest export market for US potatoes.
In conclusion, the trade war between the US and other countries is having a significant impact on the agriculture industry. The tariffs are causing prices to drop, crops to pile up, and farmers to struggle. It is essential that the US government works to resolve the trade war and find a way to support American farmers. Agriculture is an integral part of our economy, and it is crucial that we protect it for future generations.