The New York Times, Alan Rappaport, 10/12/2020
“Despite an extraordinary government bailout, America’s agricultural sector remains under severe economic pressure….
“…Farmers have been clobbered financially during the last two years, as Mr. Trump’s trade wars with China and Europe led to tariffs on American agricultural exports, including corn, soybeans, lobsters and peanuts. Then, this year, the pandemic interfered with global supply chains, and restaurant and hotel closures sapped demand.
Farmers were forced to dump milk into manure pits and destroy millions of pounds of beans and cabbage.
“Nearly every major sector of the farm economy will have lower cash receipts this year compared to last year, and total cash receipts will be the lowest since 2010,” John Newton, the American Farm Bureau’s chief economist….”
Read more: https://www.nytimes.com/2020/10/12/us/politics/trump-farmers-subsidies.html