Extra Worry For Farmers Over Trump’s US Trade And Immigration Policies
Farmers in the US have felt the squeeze with their overall income since crop prices have fluctuated over the last few years, threatening them to lose out in millions within their trade.
Now Trump’s US policies to do with bio-fuel and immigration means that farmers are even more worried about maintaining their trade in the agricultural industry, especially with the potential of counter tariffs being applied on US farm goods.
Earlier this year, the tariff threats were made by Trump to China, Mexico, Canada and the EU which caused a major fluctuation in prices for crops such as corn and soybeans. Then, as of July 6th, there was a rise in land prices from the tariff made against China, who responded with a tariff of their own.
Predictions had already been made by the Department of Agriculture, noting that across the board the US farm industry would have a drop in income of around $60billion even before the threat of tariffs.
One farmer based in southeastern Nebraska has witnessed some fellow farmers who have quit farming already as they have struggled to make any profit before the tariff threats were put in place earlier this year.
Many common crops that are valuable assets to farmers have seen a major fall in prices which has affected their income dramatically.
Records have shown that the prices of soybeans have hit a 10 year low, falling 19% since May whilst the price of corn has dropped by 15 per cent meaning many farmers lose out at the current prices.
Farmers who breed pigs for Pork produce could have the largest impact as a result of the tariffs in place in China. Iowa State University predict that they could lose out on more than $2billion every year because hog prices are dropping rapidly.
There have been promises made by Trump’s administration that farmer profitability will be restored but many question how it would be possible and whether they can trust the administration to do so.
The immigration policies put in place by Trump have also provided an extra stumbling block for farmers that produce pork. Farmers rely heavily on immigrants to make up the majority of their workforce but raids and trade disputes have farmers extra worried.