US Farmers who were eagerly behind President Trump’s plan to hit China hard with tariffs, despite the short-term pain they would no doubt experience, are starting to question the plan and their ability to recover when it’s all said and done.
Mario Parker and Mike Dorning provide a fairly comprehensive picture of live on the farm and the dangers farmers face in their Bloomberg piece,Trump’s $28 Billion Bet That Rural America Will Stick With Him
“At $28 billion so far, the farm rescue is more than twice as expensive as the 2009 bailout of Detroit’s Big Three automakers, which cost taxpayers $12 billion. And farmers expect the money to keep flowing: In an August survey by Purdue University and the CME Group, 58% said they anticipate another round of trade aid next year.”
How — and more importantly — when will it all end is anyone’s guess. The question is, will an end come too late for many and are taxpayers (and markets) willing to shoulder the financial burdens until then?