Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Trump’s Trade War With China Is Taxing Missouri Farmers
Wall Street Journal ^ | May 17, 2019 | Blake Hurst

Posted on 05/18/2019 4:38:33 AM PDT by reaganaut1

...

Atchison County, my small farming community in northwest Missouri, is home to about 5,000 people. One hundred thousand acres of soybeans are planted here each year. The drop in soybean prices has meant a loss of around $100 in potential income on each of those acres. Atchison County farmers will be looking at a decline of $10 million in gross income this year, or about $2,000 per capita. We won’t be buying many Whirlpool washers.

Supporters of the tariffs begin each conversation with a litany of Chinese wrongs. They say China ignores the rules governing international trade and is at best a geopolitical rival and maybe something far worse. It’s true that the U.S. response to China’s bad behavior has been inadequate. Yet rarely does the conversation move to Canada, Mexico or South Korea, other formerly reliable customers for U.S. agricultural products that have also become targets in Mr. Trump’s world-wide trade war.

Mr. Cordes, a lifelong Republican, is worried about China as well. But he’s also worried about having to take out a mortgage on his farm so he can plant this year’s crop and feed his family. The economic reality has dimmed his ardor for trade wars.

I’d like to stop China’s abuses too, but I’m more concerned with my farm’s financial future. My family produces 150,000 bushels of soybeans a year, but with the price bottoming out, we expect to take a $250,000 hit to our gross income in 2019. Farmers are patriotic. We love our country and don’t want to see it cheated. But we’ve given about as much to this battle as we are able.

Tariffs are a tax on U.S. consumers. We already tax ourselves to belong to international organizations that are supposed to enforce trading rules

(Excerpt) Read more at wsj.com ...


TOPICS: Business/Economy; Extended News; News/Current Events; US: Missouri
KEYWORDS: china; donaldtrump; farmer; farmers; tariff; tariffs; trade; tradewar; trump
Navigation: use the links below to view more comments.
first previous 1-2021-35 last
To: DoodleDawg

Farmers are the moat pampered 4% of the workforce you can find. Tractor monkeys are so special.


21 posted on 05/18/2019 6:24:14 AM PDT by central_va (I won't be reconstructed and I do not give a damn.)
[ Post Reply | Private Reply | To 3 | View Replies]

To: yldstrk

“Tariffs are a tax on U.S. consumers.
*************************
There is the lie. Tariffs are a barrier to the products affected. Consumers will buy elsewhere.”

OR
Consumers will consume something else...I. E. If beef expensive? Buy Pork? etc etc etc


22 posted on 05/18/2019 6:27:14 AM PDT by litehaus (A memory toooo long.............)
[ Post Reply | Private Reply | To 6 | View Replies]

To: reaganaut1
The major hypocrisy here is that, without exception, most of the anti tariff traitors are also deficit hawks. The tariffs will generate $150B/yr in direct revenue to the US treasury and very much help "balnce the budget" Hypocrites all.
23 posted on 05/18/2019 6:27:18 AM PDT by central_va (I won't be reconstructed and I do not give a damn.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: jmaroneps37

Why doesn’t the WSJ praise the revenue aspect of the tariffs? $150B/yr of NEW revenue will come into the US Treasury, that is significant. It helps to decrease the budget deficit in a major way.


24 posted on 05/18/2019 6:31:23 AM PDT by central_va (I won't be reconstructed and I do not give a damn.)
[ Post Reply | Private Reply | To 18 | View Replies]

To: bert

November and January futures are basically steady. Brazil has had a smaller than anticipated soybean crop.


25 posted on 05/18/2019 6:33:53 AM PDT by jjotto (Next week, BOOM!, for sure!)
[ Post Reply | Private Reply | To 17 | View Replies]

To: jjotto

Interesting.

I was thinking more of an existing contract for deliveries over time at a contracturally fixed price. Is the Chinese buyer, perhaps the government, still required to purchase at a tariffed price.

Which raises the question, can the Chinese government waive the tariff on purchases it makes ?


26 posted on 05/18/2019 6:40:17 AM PDT by bert ( (KE. NP. N.C. +12)There were Democrat espionage operations on Republican candidates)
[ Post Reply | Private Reply | To 25 | View Replies]

To: bert

Likely the question of Chinese tariffs being applied to existing contracts would be up to the Chinese government, but my instinct would be that they would not, at least officially.

With China, I’m not sure there’s a way to really know what it’s doing internally.


27 posted on 05/18/2019 6:50:41 AM PDT by jjotto (Next week, BOOM!, for sure!)
[ Post Reply | Private Reply | To 26 | View Replies]

To: jjotto

Yes...... interesting isn’t it.

The soy bean guys might not actually lose any sales to China


28 posted on 05/18/2019 6:59:12 AM PDT by bert ( (KE. NP. N.C. +12)There were Democrat espionage operations on Republican candidates)
[ Post Reply | Private Reply | To 27 | View Replies]

To: bert

Worldwide demand is what it is. The commodity will be sold one place or someplace else. Traders with sweetheart deals with China are driving the hysteria.

Note that corn and DDGS from ethanol production can take the place of a lot of soybeans as animal feed, so China may buy more corn while buying less beans.


29 posted on 05/18/2019 7:06:57 AM PDT by jjotto (Next week, BOOM!, for sure!)
[ Post Reply | Private Reply | To 28 | View Replies]

To: reaganaut1

It’s amazing how tariffs against these other nations that have butt raped us for decades are always bad for us somehow???

The media wouldn’t be biased would it????


30 posted on 05/18/2019 7:09:25 AM PDT by Professional
[ Post Reply | Private Reply | To 1 | View Replies]

To: reaganaut1

Coastal elitist should view Greg Hunters weekly update for May 17 2019
https://usawatchdog.com/traitors-going-to-jail-china-trade-war-economic-update/

ff to 23:35.
The Mississippi river floodplain remains covered in water.
Hundreds of acres are not seeded/planted.
Pray the water drains off the land!


31 posted on 05/18/2019 7:30:50 AM PDT by Steven Tyler
[ Post Reply | Private Reply | To 1 | View Replies]

To: DoodleDawg

“Seed has been in the ground for weeks now.”

Don’t know where you live, but in Illinois, due to the cold & wet Spring the % corn and soybeans planted is near 0. Normal for corn in mid-May is 100% and soybeans near that.


32 posted on 05/18/2019 9:02:35 AM PDT by Western Phil
[ Post Reply | Private Reply | To 19 | View Replies]

To: Russ

“the government has promised to subsidize their soybean crops to offset the loss from tariffs.”

Don’t know how much of that is real. Its the same government that made the Indian treaties.


33 posted on 05/18/2019 9:08:59 AM PDT by Western Phil
[ Post Reply | Private Reply | To 2 | View Replies]

To: reaganaut1

Tell the farmers to call a Wambulance.

Grow extra Ethanol instead.


34 posted on 05/18/2019 10:09:57 AM PDT by faucetman (Just the facts, ma'am, Just the facts)
[ Post Reply | Private Reply | To 1 | View Replies]

To: reaganaut1
A ‘flood warning’ remains in effect in Atchison County, until Tuesday morning. Soybeans do not grow like rice, even if any seeds got planted this spring.
35 posted on 05/18/2019 12:40:41 PM PDT by Just mythoughts
[ Post Reply | Private Reply | To 1 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-35 last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson