Wednesday, February 12, 2020

Farmers Pay $7 billion In Tariffs For Trump's Trade Policies


Photo: Forbes



The Trump administration has made a disaster of the United States trade policies over the last few years.  President Trump has repeatedly said that the farmers of America are going to 'win big' or 'win so big' that they won't be able to handle it.  What?  Over the last few years, a trade war with China has caused considerable stress on farmers.



Tariffs have been the so-called solution to the trade war with other countries.  Really?  Over the last few years, posts have appeared on this blog site documenting the changing economic (and supply/demand) climate for farmers across America.  Those are below in the 'Related Blog Posts' at the end of this blog post.  Let's cut to the chase though below.



Recent reporting from Politico Agriculture states the apparent magnitude of the disaster of the current trade war:



TWO YEARS OF TARIFFS TAKE A TOLL: Trump's trade war has cost consumers $50 billion since February 2018, according to data published Monday by the Tariffs Hurt the Heartland campaign. In December 2019, for example, Americans paid $6.3 billion in duties, compared with about $2.6 billion in December 2017 — just before the trade tensions began.

The numbers are a reminder of the work that remains to be done on the trade front, despite Trump's recent success in sealing partial deals with China and Japan, among others. "Make no mistake — this trade war is as active as it was in December," said Brian Kuehl, co-executive director of Farmers for Free Trade. Trump signed the limited agreement with China last month.

Tariffs Hurt the Heartland also released specific data for Florida, Michigan, Ohio, Pennsylvania, Wisconsin — critical battleground states that Trump will need to win in November to secure a second term. Farmers, consumers and businesses in those five states have paid an additional $7.6 billion in tariffs because of the administration's trade policies.


Those readers who have trusted President Trump have fallen for the misinformation campaign which has been pushed over the last few years.  Why?  Because many of us felt like President Trump was a very successful businessman when he was a candidate for president.  Upon taking office, he has been exposed to be a very successful celebrity.  The two are vastly different.



Who suffers? Both the American consumer and the American farmer.  Each has consumed the tariffs from the trade war with China in one or another form.  Whether that is the cost at the cash register or extra fees attached to shipping orders. Why has President Trump been so successful in pulling the wool over the American citizen's eyes?  We have paid dearly for the trade war which should not have been started to begin with.  When are we as a nation going to realize the fact that these are extra costs incurred by each of us as a result of bad trade policies?



In closing, I would like to say, I would love to be wrong.  I would love to have to eat my own words.  But when I (as an instrument manager at a University) open a package and see that an added cost (due to tariff) has been imposed.  Then I know that China is not paying for the tariff charge -- the University is (or me).



Related Blog Posts:



"I did the Biggest Deal in the history of our Country yesterday - in terms of trade"


What is the potential adverse impact of Tariffs on GDP?


Climate Change Indirectly Hits Farmers: Increasing Crop Insurance Premiums


Farmer's Perspective on Trump's Trade War: Interview


Surprise! American Consumers will pay for Chinese Tariffs!
"Trade Not Aid" -- A Shout out from Farmers to President Trump again


Former FDA Director Asked Congress For Clarity Regarding CBD in Food Products


Soybean Farmers Are Storing Too Much Soybean, Although Chemical Industry Is Greenlighting Trade Deals?


How many cows are needed to generate 50,000 tons of beef exports?


Trade War Hurts Farmers -- From The Farmer's Mouth Directly


"Trade Not Aid" -- The Answer For Trade War!


Parameters: Tariffs Affect Trade In Both Directions -- In And Out Of The USA


Parameters: Steel And Aluminum Tariffs Are Not Isolated - They Are Tied To Trading Of Other Vital Goods

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