The trade war has cost farmers potential Chinese orders for the corn-based fuel as well as for a byproduct that is used as animal feed. Now, the refinery exemptions are compounding the financial pain — and threatening political consequences for the president, who won this state and its six electoral votes in 2016.
President Trump began his Tuesday with a congratulatory tweet to new British Prime Minister Boris Johnson, a shout-out to the military and a rosy assessment of U.S. agriculture: “Farmers are starting to do great again, after 15 years of a downward spiral. The 16 Billion Dollar China ‘replacement’ money didn’t exactly hurt!”
President Donald Trump’s threatened 5% tariff on all Mexican imports could hit American farmers especially hard if Mexico retaliates with punitive duties on U.S. agricultural products. Farmers are already reeling from Trump’s drawn out trade war with China and fear further losses could be in their futures.
President Trump on Thursday unveiled a $16 billion bailout for farmers hurt by his trade war with Beijing, signaling a protracted fight ahead that is already prompting some American companies to shift business away from China.