Letter to the Editor: Thanks, but no thanks

To the Editor:

Thank you, Mr. President.

On behalf of corn, wheat and soybean farmers across America, I thank you for this 12 billion dollar, one-time bailout.

Your tariffs on soybeans and pork have caused financial loss to soybeans, wheat and corn amounting to 13 billion dollars in June, 2018 alone.* That is one billion dollars more than the “bailout”. And that is only June.

According to University of Illinois and Ohio State University research, China’s 25% tariff on soybeans could cost Illinois midsize farms 87% of their income, and a $500,000.00 loss in net worth, per operation.* That’s per farm family.

Kalena Bruce, a fifth generation Missouri rancher, states that hogs are down 20% and lean hog futures by 14%.

Oh, and there’s more. The offended countries are retaliating. Their tariffs? China: $36.8 billion, E.U.: $3.2 billion and Canada: $12.6 billion (and the last two are our friends). In Iowa alone, we will be affected by retaliatory tariffs. Canada: $660 million, Mexico: $126 million, China: $105 million and the E.U.: $87 million. That will affect 456,300 Iowa jobs that are supported by global trade.**

I think you can tell I am not thankful to our President, and I really don’t think he’s helping anyone except his fellow oligarchs in corporate America.

Respectfully,

Ann Klees
Waterville

* NFU newsletter Issue 380, July 26, 2018
** U.S. Chamber of Commerce

 

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