03:42 GMT07 July 2020
Listen Live
    Cartoons

    Campaign Promises: Nothing But a Hill of Beans?

    Cartoons
    Get short URL
    283
    Subscribe

    Soybean prices have declined by 19 percent since the day US President Donald Trump took office, and American farmers in 2018 went bankrupt twice as fast as they did in 2008, at the height of the global financial crisis.

    Campaign Promises: Nothing But a Hill of Beans?

    Despite Trump's promises as recently as January that a "great harvest" is coming, farmers have suffered as the White House butts heads with China over trade. Most recently, a top official at the US Department of Agriculture announced that the value of US farm exports is expected to plunge by $1.8 billion in fiscal 2019 thanks to the trade war with China.

    "Under the trade dispute, exports to China alone have plummeted by 22 million tons, or over 90 percent," Robert Johansson, the chief economist at the USDA, said at the USDA's annual forum in Washington, DC.

    Much of the drop is related to a loss of soybean sales to China. In fact, US soybean exports to China have decreased by 98 percent this year, according to Yahoo Finance, as China has started importing the crop from Brazil amid the trade war. Soybeans were the US' top agricultural export to China last year.

    Related:

    India to Relocate $44 Bln Saudi Aramco Refinery Project Due to Farmers' Protest
    Trump's Tariffs Crippling US Farmers, Support Beginning to Waver
    Midwest US Farmers Going Bankrupt Faster Than During 2008 Recession
    Polish Farmers Want to Resume Trade With Russia, Cut Imports From Western Europe
    Brutal Attacks on White S African Farmers Soared in 2018 – Report
    Tags:
    trade conflict, soybeans, farmers, Donald Trump, United States
    Community standardsDiscussion

    More cartoons

    • Case Disgrace
      Last update: 23:24 GMT 02.07.2020
      23:24 GMT 02.07.2020

      Case Disgrace

      According to US President Donald Trump, the United States economy is rebounding as the nationwide COVID-19 "flames" are being put out, despite the fact that the nation just marked it's largest single-day registration of new novel coronavirus infections: nearly 50,000.

    • White House Scramble
      Last update: 21:38 GMT 30.06.2020
      21:38 GMT 30.06.2020

      White House Scramble

      Reports have surfaced of White House staffers frantically trying to track down US President Donald Trump over the weekend to get him to delete his retweet of a video in which a man yelled “white power,” but Trump wasn’t answering his phone while partying it up on the green at his Virginia golf course.

    • Statues Trump COVID-19
      Last update: 22:52 GMT 25.06.2020
      22:52 GMT 25.06.2020

      Statues Trump COVID-19

      US President Donald Trump seems to be more concerned with the defense of monuments than protecting his own citizens from dying of the COVID-19 novel coronavirus.

    • Statutory Statuary
      Last update: 00:26 GMT 24.06.2020
      00:26 GMT 24.06.2020

      Statutory Statuary

      US President Donald Trump is authorizing the arrest and criminal prosecution of individuals who attempt to take down monuments amid nationwide protests.