Trump's tariffs seen delivering a repeat blow to US farm exports

[BumRushDaShow]

Source: Roll Call

Posted November 14, 2024 at 4:16pm


President-elect Donald Trump’s pledge to levy hefty tariffs on imports is expected to result in retaliation that hits farmers hard, repeating events of his first term, when Washington spent tens of billions of dollars to ease the pain on the agriculture sector. Trump has proposed a blanket 10 percent to 20 percent tariff on all goods imports, a 60 percent or higher tariff on goods from China, and up to 100 percent on goods from Mexico.

His tariff proposals come even as House Republicans seek to prohibit the mechanism Trump used to aid farmers in 2018 and 2019. “Why would a country not retaliate?” asked Brian Kuehl, executive director of Farmers for Free Trade, a nonprofit organization that advocates free trade. “Everybody’s going to look out for their interest, and if you start hitting them with tariffs, they’ll start hitting you back. That’s what a trade war is.”

A trade war in the second Trump administration could again bring a steep drop in U.S. corn and soybean exports to China. The National Corn Growers Association and the American Soybean Association said in an October study that soybean exports could fall nearly 52 percent and corn exports about 84 percent if China responds in kind. The forecasts are against expectations for exports. China retaliated with high tariffs in Trump’s first term, but, after signing a new trade pact, granted waivers to U.S. producers. Beijing could lift those waivers at any time.

Soybeans and soy products could see tariffs of 30 percent to 35 percent, up from 3 percent to 9 percent now. Corn exports below a 7.2 million-ton quota could see a 1 percent tariff rise to 26 percent. Corn exports above that quota could see tariffs rise from 65 percent to 90 percent, the study said.

Read more: https://rollcall.com/2024/11/14/trumps-tariffs-seen-delivering-a-repeat-blow-to-us-farm-exports/

[PortTack]

1. Yet here in farm country...Illinois all kinds of t-rump Vance signs out in those fields. Gov Pritzker bailed farmers

Out by finding other markets. He, like other good Dems that went above and beyond got zero credit.

No fucks left to give!

[Jit423]

20. I don't know about you, but I am pretty sick of the corporate farm welfare.

Being paid to not produce and providing subsidies that based on wrong-headed tariff policies is wrong. Notice the subsidies will go to mostly corporate or food industry farms. It always has, I don't care what they call themselves. A family can own a multimillion dollar piece of fallow land but that doesn't make it a small family owned farm. Actual family owned, small farmers will see little if any of the subsidies.

[SKKY]

2. And yet, they voted for him by a wide margin...

...I hate to say this, but elections have consequences. And you're about to "find out".

[JohnSJ]

4. Probably not though. The first time he pulled this stunt he subsidized there loses at tax payers expense, and

I suspect he will do the same thing again if he pulls this.

[Rebl2]

15. Hope not

[JohnSJ]

3. fuck em. They knew what a disaster he was in 2016 when he pulled the same stunt, and he had to subsidize them then

at tax payers expense. No doubt he will do the same thing again.

[travelingthrulife]

10. He doesn't need their votes anymore so he may be content to just shaft them.

n/t

[Bettie]

5. Well all the farmers here in Iowa

voted for that orange piece of shit, so they should be happy about it.

It is literally what they voted for.

[Emile]

6. I live in rural Indiana. Farmers around here vote for the Magic R.

[Blue_Tires]

7. Don't look at me, evidently white folks wanted this

And voted for it

[travelingthrulife]

9. They voted for him. This time they don't get bailed out by Democrats.

n/t

[AZLD4Candidate]

11. I said that Farmers are the most selfish people on the planet in numerous posts and got flamed hard

Lived in farm country my entire life in the States and do now in Western PA.

I don't care if they suffer at all. Based on voter returns, they voted for this asshole. I hope they suffer hard under him. I hope they suffer the hardest.

[DallasNE]

12. So What Will Be The Trump Response?

It will most likely be government subsidies to the farmers to keep producing. But that will drive up the government's borrowing hugely. More shallow thinking that makes matters worse is never the solution.

[in2herbs]

21. It won't drive up the government's borrowing hugely if there are drastic cuts to other

programs to offset the cost.

[MontanaFarmer]

26. If exports drop

and we subsidize continued production, then you create a perpetual over-supply issue that could take years to unwind. If we're not going to change the framework of our ag production and ag policy, which we haven't since Earl Butz, then you simply have to trade/export. This is a disaster in the making.

[DallasNE]

31. Correct, We Will Have A Return Of Surplus Like In The 1950's

Then we had a grain agreement with the Soviet Union (Russia) that lasted several years until they could build up their own production. But the biggest boon by far was corn production for ethanol as a gas additive, bringing us up to today. Losing market share to countries like Argentina would have long-range implications as well since regaining market share is no easy task. If it's not broke, don't fix it.

[Prof. Toru Tanaka]

27. Yeah, we won't hear a peep about our national debt under Trump.

Or they’ll just blame it on the “tax and spend” Democratic Party and their slack-jawed base will eat it up.

[CaptainTruth]

13. Why wasn't this reported months ago?

Mainstream media should have been full of stories like this for months BEFORE the election. I didn't see it.

[kimbutgar]

14. Here in California on highway 5 going south there were a bunch of t@#$p signs and they are going to

Lose all that immigrant labor if he succeeds in deporting them. Whenever I see workers harvesting they are almost ALL Latino. And they also scream about water regulations that serve the whole state not just them. I hope Newsome can push back on the orange turds shift in water policies. There was a article today in the SF Chronicle where he said water was for users not the fish. Does the MFer not know we need a thriving ecosystem with fish? He’ll destroy the fishing industry also!

[SharonClark]

16. Trump will give them big subsidies as he did the last time.

Big Ag knew that.

[Beartracks]

17. "I mean... sure, my crop exports recovered under Biden, and my son's factory job came back, but..."

"... but Trump said the cost of eggs was too high last year."

==============

[republianmushroom]

18. But, but, it worked so well the last time.

Suck it up Midwest farmers and your cheap help is going to disappear also.
More than just a little.

[NotHardly]

19. They voted for the face eating zombies, let them understand consequences

[in2herbs]

22. The problem with that is which oligarch is waiting in the wings to buy the bankrupt farm land? nt

[cstanleytech]

24. Yup, the private American farmers are about to get screwed over.

[Prof. Toru Tanaka]

28. If they voted for Trump, I really don't care.

Let them feel the pain with the rest of us.

[DENVERPOPS]

23. Hey BRDS

You always have the best articles.......thank you, from all of us

[BumRushDaShow]

30. ...

[poozwah]

25. cult

those who engage in farming should take a close look at the word CULTivation.

[CousinIT]

29. Shitler is going to crash the US economy with his tariffs, deportations and general chaos. n/t