American farmers struggle to stay afloat amid floods and trade war

News Image

MG News | August 14, 2019 at 01:25 PM GMT+05:00

0:00

Aug 14, 2019: Caught in the middle of a trade war and hammered by massive spring floods, American farmers are facing a tough year and worry about their future, yet some still trust President Donald Trump.

The situation worsened last week when Beijing halted purchases of US farm crops in retaliation for Trump's vow to put tariffs on Chinese imports.

It's "a body blow to thousands of farmers and ranchers who are already struggling to get by," said Zippy Duvall, president of the Farm Bureau, the country's largest agricultural association.

"Now we stand to lose all of what was a $9.1 billion market in 2018," he said in a statement, noting that exports had already dropped dramatically from the $19.5 billion sent to China in 2017.

Trump's Democratic rivals in next year's presidential election have seized on the trade war, with former vice president Joe Biden saying the dispute "is going to cause a lot (of people) to go bankrupt" during a stop last week in Iowa, an agricultural state that backed the president in the 2016 election.

Trump shrugged off the criticism on Tuesday, saying the blame for the hardship lies with the Chinese.

"They've said they're going to buy farm products. So far, they've disappointed me with the truth," he said.

AFP/APP

Related News

Name Price/Vol %Chg/NChg
KSE100 134,299.77
290.06M
0.39%
517.42
ALLSHR 84,018.16
764.12M
0.48%
402.35
KSE30 40,814.29
132.59M
0.33%
132.52
KMI30 192,589.16
116.24M
0.49%
948.28
KMIALLSHR 56,072.25
387.69M
0.32%
180.74
BKTi 36,971.75
19.46M
-0.05%
-16.94
OGTi 28,240.28
6.19M
0.21%
58.78
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,500.00 119,450.00
115,635.00
4630.00
4.07%
BRENT CRUDE 69.36 69.50
68.55
0.72
1.05%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
1.10
1.14%
ROTTERDAM COAL MONTHLY 108.75 108.75
108.75
0.40
0.37%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 67.36 67.54
66.50
0.79
1.19%
SUGAR #11 WORLD 16.24 16.43
16.20
-0.02
-0.12%

Chart of the Day


Latest News
July 11, 2025 at 05:41 PM GMT+05:00

PSX Closing Bell: Bulls Serenade The Bourse


July 11, 2025 at 05:06 PM GMT+05:00

UBL doubles profit to Rs65bn in 1HCY25


July 11, 2025 at 04:19 PM GMT+05:00

Ideal Spinning Mills to exit spinning business


July 11, 2025 at 04:12 PM GMT+05:00

OMO Result: SBP injects Rs1.72tr


July 11, 2025 at 03:38 PM GMT+05:00

Weekly SPI increases by 0.95%



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg