Trump trade war: Farmers are going to 'lose farms that they've had in their families for generations,' says Land O'Lakes CEO
âforgotâ to report that we are helping the great farmers of the USA to the tune of 28 Billion Dollars, for the last two years, paid for out of Tariffs paid to the United States by China for targeting the farmer. They devalued their currency, therefore paying the cost!Trump himself reacted to the CBS report by insisting that farmers were getting subsidized to make up for the trade shortfalls, and also levelled the blame at Beijing.
He tweeted:"60Minutes 'forgot' to report that we are helping the great farmers of the USA to the tune of 28 Billion Dollars, for the last two years, paid for out of Tariffs paid to the United States by China for targeting the farmer. They devalued their currency, therefore paying the cost!" However, groups such as the Minnesota Farmers Union have maintained that the subsidies do not cover the losses. Iowa Soybean Association president,On Friday, the Trump administration said there would be a boost to soybean producers with the announcement that there would be an as yet undecided increase in the amount of ethanol that oil refiners must add to their fuel next year, Reuters reported.
The powerful corn lobby had been unhappy at ethanol exemptions the Trump administration had given to oil refineries which they said undercut demand for their product. Beth Ford speaks onstage at the Fortune Most Powerful Women Summit 2018 at Ritz Carlton Hotel on October 2, 2018 in Laguna Niguel, California. She has spoken about the problems faced by the rural sector under President Donald Trump.
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