Create a free Feed & Grain account to continue reading

Hurt by Trade War, Ineligible for Bailout

Grain elevators are amongst industries that have no bailout mechanism to help with trade war fallout

The $12 billion in federal funding the Trump administration has made available to specific U.S. farmers is an effort to shield them from China’s new tariffs on their products.

The incomplete nature of the farm bailout underscores the administration’s challenge in assessing the broad fallout from Trump’s trade war and deciding which groups should be compensated for their losses and which should have to pay for them out of pocket, reports The Washington Post.

There is no bailout mechanism for a host of other firms losing cash from the trade battle: grain elevators that store soybeans, Midwestern farm equipment vendors that report a slowdown in sales, or ocean carriers — who could be hurt by the industry-wide slowdown.

Brandon Seidl, who has worked at a grain elevator in Longview, WA, for about 20 years, said a number of co-workers have begun reining in their spending. Whereas there are typically seven days’ worth of work at the grain elevator, he said, the most recent months have only seen three days of available work.

Read the full report at The Washington Post.

Page 1 of 71
Next Page