Agricultural leaders from across the Midwest and beyond gathered Wednesday to say they are concerned tariffs being proposed in the presidential campaign could launch a new trade war which would hurt U.S. agriculture.
In interviews former President Donald Trump has said he would impose tariffs of “60 percent or higher” on Chinese goods if he wins a second term this November.
During Wednesday’s press conference, agricultural leaders said the rural economy is still recovering from the 2018 trade war with China launched by the imposition of tariffs by the Trump administration.
Denny Wolff, former Pennsylvania secretary of agriculture said that trade war set back domestic farmers by $28 billion. He added it also resulted in a spike of farm foreclosures in 2019.
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“A poll that I saw showed that about 75 percent of the farmers polled were Republicans,” Wolff said. “But, 84 percent of the famers polled are very concerned about the impact of another tariff war if former President Trump gets back.”
Former Michigan Representative Howie Wetters, a fifth-generation dairy farmer, said he saw the impact of 2018 too.
“Families lost their farms, and some of those family farms were like mine,” Wetters said.
“They’ve been in the same family for generations, and it’s gone. Someone else owns it today,” he continued. “Agriculture is the lifeblood of the rural economy.”
A report by World Agricultural Economic and Environmental Services analyzed two possible tariff-rate scenarios, and projects steep multi-billion dollar losses for domestic corn and soybean farmers and crop-related industries. It stated that the combined soybean and corn contribution to the total economic output would project to drop $4.9 billion annually under the first scenario or $7.9 billion per year under the second.
Minnesota Soybean Growers Association Director Jamie Beyer estimated Minnesota farmers could face huge losses from the proposed tariffs.
“For my state of Minnesota, soybeans are our number one ag export, and China is our number one customer,” Beyer said. “With 60 percent tariffs, Minnesota family farms would be impacted with soybean export losses of more than $1.9 billion. These have generational impacts to our ag economy. When the farm economy hurts, rural America suffers.”
When looking at candidates for the presidential election, Minnesota Farmers Union President Gary Wertish said what farmers want is to avoid another trade war and to have fair treatment in the marketplace.
“Our leaders must take a measured and cooperative approach when it comes to negotiating trade deals,” Wertish said. “We can hold other nations accountable for unfair practices while also not jeopardizing the short-term and long-term financial health of family farms.”