Even before the specter of a trade war with China and other countries threatened to cost them billions of dollars, American farmers were feeling the squeeze from fluctuating crop prices and other factors that have halved their overall income in recent years, reports the Greenfield Recorder.
The threat of counter-tariffs on U.S. farm goods and the impact of President Donald Trump’s other policies on immigration and biofuels, though, have some farmers more worried than ever about their ability to continue eking out an existence in agriculture.
The Department of Agriculture predicted before the threat of tariffs and counter-tariffs that U.S. farm income would drop this year to $60 billion, or half the $120 billion of five years ago. That projection is likely high, given what’s transpired since.
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