Farm economy

U.S. farmers compete to sell their goods, like these soybeans in Nebraska, on a world market.
Grant Gerlock / Harvest Public Media file photo

The trade war has come home to roost among U.S. farmers and ranchers whose livelihoods are targeted by tariffs from China, Mexico and Canada. The U.S. Department of Agriculture did something about it Tuesday, announcing it'll spend up to $12 billion in aid, including direct payments to growers. 

The Trump administration is coming to the aid of farmers hurt by its own hard-line trade policies, announcing Tuesday that it will make an estimated $12 billion in government assistance available, including direct payments to growers.

The money comes after farmers, especially soybean growers, have felt the brunt of retaliatory tariffs placed on agriculture by China and other nations that the Trump administration has penalized with tariffs on imports.

Vice President Mike Pence came to Kansas City Wednesday, where he touted Republicans running for office on both sides of the state line and tried to ease concerns about the Trump administration’s expanding trade war.

Farmers at Betty’s Truck Stop near Sweet Springs, Missouri, took their coffee with a side of bad news early Wednesday morning.

In response to the Trump administration's threats to place tariffs on $50 billion in Chinese goods — including farm implements — China threatened to sanction $50 billion in U.S. exports, this time targeting airplanes, cars, chemicals and soybeans.

“Beans are down 50 cents overnight, and corn’s down 14 because of this trade thing with China,” Jim Bridges said as he took a seat at a large table in the center of the restaurant. Bridges, who grows corn and soybeans, made a few calculations and reckoned his potential losses at about $50,000.