AFBF: Trade War Coming At A Time Farmers Can Ill Afford It

A continuing trade war means many farms will lose money and even go out of business entirely, that according to the American Farm Bureau Federation.  Russell Boening is  chairman of the AFBF Trade Advisory Committee.  He recently told the House Ways and Means Committee that farmers and ranchers depend on free trade.

“We rely on trade each and every day to market the products that we work hard to grow.  In fact, about 25% of the U.S. farm income is arrive from selling ag products internationally.  We are concerned about the blowback from the Administration’s decision to place tariffs on our trade partners.”

The Boening family operates a dairy in Texas.  They also raise watermelons, feed grains, wheat, cotton and beef cattle. Boening told lawmakers these trade issues are making a bad situation even worse.

“Agriculture is bearing the brunt of retaliation at a time when farmers are already facing low commodity prices, some high input costs, and of course unpredictable weather.  Net farm income has dropped 52% in the last five years making it extremely difficult for farmers and ranchers to continue operating.  The addition of a trade war comes at a time that we can ill afford it.”

Boening acknowledged the need to address trade practices that harm the United States, including China exceeding WTO support limits for farmers by $100 billion for corn, rice and wheat in a single year.

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