Trump Tariffs hurt American Farmers

ABC is reporting that "Hedge fund honcho Bill Ackman joined a growing list of President Donald Trump's billionaire backers calling for the White House to slam the brakes on tariffs just hours before Trump authorized a 90-day pause on reciprocal tariffs for most countries that went into effect Wednesday morning."

CBC is reporting that "American farmers say U.S.-imposed tariffs on Canadian goods are having a devastating effect on the local agriculture sector south of the border."

"Sombke says he's disappointed to see Trump — who was backed by 63 per cent of voters in South Dakota — turn close trading allies into adversaries. 'What we need to do is find ways to work together to help each other, as a world market, rather than go through these tit-for-tat types of situations that are never helpful for anyone,' he said."

"We've become such enemies just because of this one man."

Food and Water Watch is reporting that "While Donald Trump campaigned on lower prices and support for workers and rural America, his new tariff policies will have harrowing impacts on farmers and consumers. His staggering tariffs — the highest in more than a century — threaten skyrocketing prices for essentials like food."

"At the same time, they’ll worsen the existing crisis for American farm families. During his first administration, Trump’s tariff trade war required more than $32 billion in bailouts for farmers. The current reality is that U.S. farm policies have splintered rural economies. Small and medium-sized farms struggle to merely break even from farming."

The Associated Press is reporting that "Heading into this year, most U.S. farmers were hoping to break even or maybe record a small profit if they could find a way to limit their sky-high costs. But now they are faced with losing the biggest export market for many of their crops after China retaliated against President Donald Trump’s tariffs."

"Soybean and sorghum farmers have particular reason to worry because at least half of those crops are exported and China has long been the biggest buyer. China has also bought a lot of American corn, beef, chicken and other crops as part of spending $24.65 billion on U.S. agricultural products last year. Now with China slapping 34% tariffs on all American products Friday — on top of other tariffs it imposed earlier this year — all of those products will be significantly more expensive in China."

"Dufault said he is worried that these new tariffs might put many farmers out of business, including the young farmers he rented his land to heading into this year as he retired because they likely won’t make anything in 2025."