Midwest Farmers Feel Pain of Trade War with China

By | May 15, 2019

  • May 15, 2019 at 1:38 pm
    Caldude says:
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    This “trade squabble” has already taken the life and livelihood of so many farmers. Soybeans are $6/bushel market, with too much inventory in storage and it costs $9/bushel or more to plant. Turning on the tractor is a financial loss. Banks can’t loan farmers money because the can’t show a cashflow. Bankruptcy and suicides are the latest crop in the farm industry. $15b buyout is BS. They want to farm, not a handout and .01c per bushel is a slap in the face.

    • May 15, 2019 at 2:55 pm
      Craig Cornell says:
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      The “squabble” is long overdue. Yes, farmers are hurting right now. But reasonable estimates are that China’s theft of intellectual property cost the US over 3.4 million manufacturing jobs.

      Where was your sympathy for those blue collar workers when Bush and Obama were President and did absolutely nothing to punish China?

      And what is your recommended approach to China? Lay down? Give Trump time; the Chinese thieves are under more pressure than we are and Trump won’t abandon farmers in the long run.

      • May 16, 2019 at 1:37 pm
        Caldude says:
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        They bought a load of crap. “Trade wars are easy to win”. Now they are trying to guilt these famers into accepting their pittance handout or they are not patriots?! I have family and friends that served in the military and bled for this country and now are losing their farms and unless sit down and shut up they are not patriots?! Are you kidding me?!

      • May 17, 2019 at 9:09 am
        Way To Go says:
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        It’s interesting to hear give them time in regard to a trade war with China.. especially when such information comes out like:

        U.S. consumers and businesses are paying more than $900,000 a year for every job saved or created by Trump steel tariffs, according to calculations by experts at the Peterson Institute for International Economics. The cost is more than 13 times the typical salary of a steelworker, according to Labor Department data, and it is similar to other economists’ estimates that Trump’s tariffs on washing machines are costing consumers $815,000 per job created….

        Many economists and business leaders point out that jobs in steel-using industries outnumber those in steel production by about 80 to 1, according to experts at Harvard University and the University of California at Davis

        Oh, and in regard to the farmers:

        The Trump administration has forked over more than $62 million — taxpayer cash that was supposed to be earmarked for struggling American farmers — to a massive meatpacking company owned by a couple of corrupt Brazilian brothers.

        The Department of Agriculture cut a contract in January to purchase $22.3 million worth of pork from plants operated by JBS USA, a Colorado-based subsidiary of Brazil’s JBS SA, which ranks as the largest meatpacker in the world.

        It would be nice to use American farmers…

        https://www.washingtonpost.com/business/2019/05/07/trumps-steel-tariffs-cost-us-consumers-every-job-created-experts-say/?noredirect=on&utm_source=reddit.com&utm_term=.531d24b8b2ce

        https://www.pressherald.com/2019/05/16/company-owned-by-brazilian-crooks-received-62-million-in-trump-bailout-cash-meant-for-struggling-u-s-farmers/

        • May 17, 2019 at 6:07 pm
          Craig Cornell says:
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          You focus on two minor issues, steel tariffs and a contract for pork purchases. Nobody cares (not even you, I bet).

          The dispute with China is massively bigger than those two combined. Your two “issues” are nothing, which is why the Trump-hating liberal media (redundant, I know) don’t even mention them.

          China steals everything. Hell, this is one area where even Congressional Democrats admit (finally) that we have to do something.

          Your reference to 2 minor issues? Pathetic partisan babble.

    • May 15, 2019 at 2:56 pm
      Craig Cornell says:
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      P.S. Don’t ever look to Insurance Journal to publish an article on the legitimate reasons to confront China.

      • May 15, 2019 at 3:57 pm
        Andrew G. Simpson says:
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        Happy reading, Craig:

        Trump Readies Security Order Limiting Huawei, Other Foreign Telecoms
        Services, Intellectual Property on U.S.-China Trade Talk Agenda for Next Week
        U.S. Firms in China Say Trade Deal Must Address Unequal Treatment
        China Pledges Expanded Market Access for Foreign Investors in Banking, Insurance
        China Seeks to Reach Deal with U.S. to Open Financial Sector, Despite Difficult Talks
        U.S. Treasury Rules Strengthen Oversight of Foreign Investors
        China Abandons Pledge, Returns to Very Active Hacking of U.S., Report Says
        CIA Says China, Russia Pose Biggest Cyber Attack Threats to U.S.
        Global Anger Finally Seems to Be Getting China to Open Up Markets: Viewpoint
        U.S. Warns of New Cyber Attacks by Group with China Ties
        BoE’s Carney Cites China’s Financial System as Risk to Global Financial Stability
        Insurance Data for Sale in China – Despite Strict Data Protection Laws
        China Imports with Iranian Oil Tankers and Insurance, Amid Sanctions: Sources
        IMF Urges China to Accelerate Opening of Economy to Outside World
        Opening of China’s Financial Sector Offers Opportunities, Risks
        Citing National Security, U.S. Kills MoneyGram Sale to China’s Ant Financial
        Insurers Tell Congress Trump Tariffs Harm Insurance Consumers
        U.S. Balks at China Cybersecurity Law, Fears It Will Hurt Global Trade
        It’s Complicated: U.S. Business Stance on China Over Intellectual Property Theft

        • May 15, 2019 at 6:13 pm
          craig cornell says:
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          Let me clarify: IJ will never publish articles on China that give Trump credit for doing the right thing. And since I can’t link to a single article, I can’t see if I was ever wrong (I suspect lots of Trump trashing in the list you posted.)

          • May 16, 2019 at 11:16 am
            Ron says:
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            There is no quantifiable way to say President Trump is doing the right thing, yet. All we know is that this trade war has harmed farmers and created uncertainty in markets and businesses right now. If a deal is struck that restores the farmers to profitability, brings back 3.4 million manufacturing jobs (or at least half of those), and stable market growth returns, I will be happy to give him credit.
            Fair enough?

          • May 16, 2019 at 12:23 pm
            Craig Cornell says:
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            He has already brought back millions of manufacturing jobs. More manufacturing jobs have been created in his first 2 years than in 8 years of Obama.

            He is trying to make it even better. Most farmers get it; did you hear is proposing a $15 billion dollar support package for farmers? Holding him accountable for fixing what Obama allowed to get broken isn’t fair at all.

            Fair enough?

          • May 16, 2019 at 1:28 pm
            Ron says:
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            Moving the bar again.

            There are 470,000 more manufacturing jobs today compared to when President Trump took office. A far cry from millions.
            In addition, growth in manufacturing jobs has declined significantly this year.

            https://data.bls.gov/timeseries/CES3000000001

            The $15 billion is just President Trump using welfare to buy votes. Ask the farmers if they would rather have the handout or work.

            He has no clue on how to deal with China or Russia or North Korea or anyone else, period. He can only “negotiate” when he holds all of the leverage. He is not a deal maker, he is a con artist.

          • May 16, 2019 at 3:16 pm
            Craig Cornell says:
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            I stand corrected. Your figures for Trump are accurate. However, you might want to correct my numbers for Obama too. He actually LOST manufacturing jobs over 8 years. I’ll take Trump’s results in 2 years to Obama’s 8. How about you?

            From FactCheck.org in 2016:

            “White House Press Secretary Josh Earnest said that 805,000 manufacturing jobs have been created since President Barack Obama has been in office. In fact, there has been a net loss of 303,000 manufacturing jobs since January 2009.”

          • May 16, 2019 at 3:28 pm
            Ron says:
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            I really don’t care what happened under other presidents when assessing whether or not the current president is doing something good or not.

            All I care about are the facts. And there are zero facts that say his trade war with China has done anything good yet. That may change.

          • May 16, 2019 at 5:14 pm
            Craig Cornell says:
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            A man of principle. You challenge my comparison of Trump to Obama by disputing the Trump numbers while ignoring the Obama numbers.

            How very convenient! And by the way, what did Obama accomplish in stopping China’s stealing of technology and jobs? (Answer: he did nothing while it was happening. SUCCESS!)

          • May 17, 2019 at 11:26 am
            Ron says:
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            You even acknowledged that my numbers on Trump were accurate. Now you’re complaining about the facts coming out?

            Can we have a debate about President Trump without bringing anyone else as a defense?

          • May 17, 2019 at 2:42 pm
            bob says:
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            I have been waiting for months for you to say this Ron, because I knew you would.

            That Trump didn’t help manufacturing. You also said above that you will give him credit when results come, but not as he tries. You kind of have to give support and the methods a chance to see if they will work. You are the problem. You gave Obama these chances, and you do not give them to Trump. You are not more than happy to let Trump try.

            As for manufacturing jobs:

            https://www.forbes.com/sites/chuckdevore/2019/01/04/312000-jobs-added-in-december-manufacturing-growing-714-faster-under-trump-than-obama/

            This is a complete change in the jobs. Trump’s over all jobs were also less governmental. If we were close to full unemployment, the jobs rates would slow down, and we would need to fill government jobs. Actually, the opposite happened. Government jobs were 357,000 of Obama’s job creation in 2015-2016. It was only 99,000 of Trump’s. Manufacturing was only 60,000, it was slowing into 2016. Then in came Trump, and it’s up to 491,000. This is a greater than 1 to one switch removal of government jobs in the jobs growth to economic jobs.

            You aren’t about numbers, you’re about destroying Trump. That’s all.

            Also, we have to compare prior presidents to compare growth. You can’t just throw Obama out whenever Trump does dramatically better and say presidents don’t matter when Obama is president, while you did compare Bush W in regards to Obama’s economy.

            You’re two faced, and absurd.

          • May 17, 2019 at 2:50 pm
            bob says:
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            I might add:

            North Korea met with South Korea. Trump knows how to negotiate with Asians. They are tough talkers, it’s what they do. If they show disrespect, you have to show it wont’ fly. Ergo why he left Kim hanging for one of the meetings after he insulted his vice.

            You act like hard words are never needed. Trump is getting things done. Softness does not get things done in the middle east, or asia. They are tough people. They like to show power, and they don’t back down.

            For people like that you come to the table, you tell them how you have them by the balls (China and trade) you tell them you’ll make sure we don’t buy their products, because it’s too expensive due to tariffs, and you say you will talk when they do the right thing and give them a proposal (too aggressive, so they will be able to say they rejected your craziness and got a deal in public). It is precisely what Trump is doing. And on this, the farmers are not hurting more than the jobs we lost in the tech sector from china. Tech sectors are high paying. We can subsidize the market for a little while, to hammer China.

            As of now the farmers won’t be hurting, because Trump has proposed subsidies, temporary ones.

            I would say he has done well on this.

          • May 17, 2019 at 2:54 pm
            bob says:
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            And to pull this all together:

            What do you propose we do with China, because only something harsh will work, which will have no consequence?

            Suddenly when a republican is in the office, anything that happens is a catastrophe, but with Obama, it’s a natural consequence of taking action.

            I am so tired of this, this is mainly because you hold the belief that the way you vote has to do with morality, and stopping liars (as you once said, why can’t us conservatives stop supporting a liar). You need to focus on policy and not character. It’s the Catholic thing to do by the way, and I held this standard for Obama. Don’t tell me about other conservatives who did not, I DID. And you should hold yourself to higher standards than that whichever the other side does, you can do too. That is not what our religion teaches Ron.

  • May 16, 2019 at 12:23 am
    Boonedoggle says:
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    In his campaign for office, Trump make it perfectly clear that he was going to alter the trade balance with China, and the farmers were some of his strongest supporters. Rather than crying buyers remorse, the farmers should simply buy more MAGA caps and quit their whining.

    • May 16, 2019 at 3:21 pm
      Craig Cornell says:
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      Can you say “6 more years?” Biden? HA HA HA! Did you see his response to the question on the tarrifs? A bungling mish mash embarrassment. Truly, the man is senile, and I don’t say that with a mean spirit. Bernie? Yesterday’s news and even a majority of Dems. don’t want what he’s cooking. Beto? Can’t stop flapping. The entire crowd is a joke. Can’t wait to see who Trump gets to eat alive during the debates.

      • May 16, 2019 at 3:37 pm
        rob says:
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        as much as it physically pains me to agree with Craig, I do in this case. The Dems honestly don’t have anyone who can beat Trump, especially with the economy in the great shape that it’s in. Biden might’ve had a chance if he were 10 years younger, but the rest of the 20+ member field of Dems are WAY too far left. I personally don’t like Trump one single bit as a person (but to be fair, never liked him much before he got into politics) and don’t agree with all of his policies, but unless the economy tanks, we get in some big war with Iran / N.Korea, etc.., someone in his party challenges him for the nomination (VERY unlikely) or there’s some kind of legitimate bombshell scandal that comes up, I don’t see him NOT winning re-election. Probably won’t get my vote, but as of now, nobody on the other side will either.

        • May 16, 2019 at 3:53 pm
          Ron says:
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          It’s way too early to call. There are several candidates we don’t even know yet and I would say about half are not really far left.

          Most importantly, there is a very realistic chance the economy will not be in such great shape in another year. He and his supporters are hanging their MAGA hats on that and there may be nothing he can do to stop it from happening.

          We’ll see in 18 months.

          • May 16, 2019 at 5:20 pm
            Craig Cornell says:
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            I just love it when I hear Democrats rooting for a recession. Shows you they really don’t think their ideas can win in a good economy.

            And please name a candidate who won’t run on most or all of the insane policies like Reparations, Open Borders, Identity Politics that divide America, raising taxes, Medicare for No One, Climate Change taxes and business-killing jobs, ending the Electoral College, Post Birth Abortion, Gun Confiscation, Suppression of Free Speech for Conservatives, Crushing of School Choice for poor people . . .

          • May 17, 2019 at 11:23 am
            Ron says:
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            I know you’re not talking about me because I am neither a Democrat nor am I rooting for a recession. Just making an observation.

            Like I said, too early to know what all of the candidates’ positions are on the issues.

            You sound like a scared Trump supporter who needs to create the narrative for his opponents instead of listening to them.

          • May 17, 2019 at 12:19 pm
            Craig Cornell says:
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            Oh, please, please show me the errors I made, Mr. Independent.

            How did I misrepresent the Great Ideas of the Dems. that a majority of Americans reject?



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