American Farm Bureau President Zippy Duvall sent a letter to President Trump and trade was the big topic. He tells the president that American farmers need a swift resolution to the ongoing trade war with China. The six-year downturn in farm prices that has produced “near-unprecedented economic uncertainty and hardship” is getting worse as a result of Chinese tariffs, he wrote to Trump.
“U.S. farmers and ranchers now face a third wave of tariff increases by China in retaliation to the latest increase in U.S. tariffs that went into effect on Friday, May 10," says Duval.
The mere threat sent prices further downward for certain commodities last week. The trade challenges are made even worse by bad weather this spring that’s hurt planting progress. In fact, Duvall tells the President that some farmers may not opt to plant a crop at all this year. An aid package would help some of the distressed farmers continue to operate, but the real solution to the problem is open markets.
Duvall adds, “We ask that your trade negotiators make a deal as soon as possible to end the tariffs that slash our exports, destroy a once-promising market for agriculture, and make the farm economy worse.”