Farmers across America and particularly west central Illinois aren’t hiding their displeasure with the ongoing trade war with China.
Despite the negative impact the trade war looks to have on the agricultural community, it seems to only be increasing. Soybean farmers specifically have been the ones most dramatically impacted by the trade war, with soybean futures falling nearly 40 points on the stock market on Friday. Overall, soybean futures have dropped more than four-and-a-half percent since the U.S. Department of Agriculture predicted a potentially record-setting soybean harvest of over four-and-a-half billion bushels in 2018-2019.
Joining WLDS’ AM Conversation yesterday was Illinois’ 18th District Congressman Darin LaHood, who spoke about where things currently stand with the 2018 Farm Bill, a decreasing middle class in America and the effects of the trade war. LaHood says that while it was somewhat necessary for the Trump administration to go after China, the Chinese retaliation has hurt the American farmer.
LaHood says he’d like to see the Trump administration to work with the Chinese on getting a better deal. He feels it’s crucial that this trade war not be a prolonged affair.
LaHood says that among his top priorities is to limit the negative impact this trade war is having on west central Illinois’ leading industry.
Despite President Trump announcing a $12 billion-dollar emergency aid package for farmers, industry experts remain uncertain about whether the aid will make up for the lost revenue American farmers have experienced.