The American Farm Bureau told Business Insider that it saw a 13% increase in farm bankruptcies since the start of the trade war.
Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.Farmers are revolting against Trump, saying that he's been making their lives worse by damaging the demand of American produce because of the trade war.Farm bankruptcies were up 13% from 2018 and loan delinquencies are rising.
Farmers say Trump's tariffs are making their lives worse, a sign his base may show signs of flagging support for the president., farming bankruptcies have risen 13% in the year through to June — roughly in line with the start of the trade war. Roger Johnson, president of the National Farmers Union, said to Markets Insider in an email that while chronic overproduction has also been an issue, as well as adverse weather and climate change having an impact on growing, Trump's administration has added to the pain.
"Instead of looking to solve existing problems in our agricultural sector, this administration has just created new ones," Johnson said, adding that Trump is"burning bridges with all of our biggest trading partners." "Things have been difficult for farmers long before this trade war rolled around. Farmers are making half of what they were in 2013, and they've taken on record levels of debt just to keep their doors open."
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