A couple with a pecan farm in Oklahoma have lost $32,000 from President Donald Trump’s multiple, ongoing trade wars. The couple recently spoke to RawStory under pseudonyms Mr. and Mrs. Smith to protect their identities.
The whole idea of Trump's tariffs was to bankrupt the small farmers so the corporate farms could buy the land for pennies on the dollar.— Jonas Salt (@jonas_salt) January 31, 2020
It had nothing to do with "protecting Americans." https://t.co/EYRlxr9cfs
From 2017 to 2019, the average pecan broker lost about $.40-.50 per pound due to President Trump’s tariffs. If a farmer is harvesting 80,000 pounds of pecans, that’s at least $32,000 they have to pay out as a result of tariffs.
While farmers did receive a bailout from the government, the money mainly went to corporate farms and the Smiths only received $3,000, which barely made a dent in their $32,000 payout. The income loss has hurt the Smiths so badly that they are not able to purchase new equipment for the upcoming farming season.
Farmers aren’t the only people these tariffs are hurting, too. A new study by the Congressional Budget Office found President Trump’s ongoing trade wars aren’t just affecting farmers, but are said to cost the average American $1,277 a year.
"President Trump's tariffs on imports - meant to boost the economy - ultimately led to job losses and higher prices, a new study from the Federal Reserve has found."— Gladys Harrison (@Gladys4Congress) February 4, 2020
This #economy is not benefiting the working class!#tradewar https://t.co/qUF5cgRV7F
Mr. and Mrs. Smith both work full time in addition to the 400-tree pecan farm they’ve owned since 1980, but they recognize not every farmer has full-time work to fall back on.
“We know of young farmers that aren’t making it,” Mrs. Smith told RawStory. “It is a catch 22. You can’t make a living unless you invest, and you can’t pay for it if prices are right.”
Farmers, especially those in Oklahoma, also have the weather working against them. A few years earlier, Oklahoma experienced hurtful droughts and currently, the
President Trump’s many tariffs have deeply hurt American farmers, the same people the president promised to support. Instead of offering solutions for U.S. farmers, President Trump has focused on bailing out a Brazilian farm corporation.
Well, now. Brazilian farm corporation is getting U.S. tax dollars in Trump’s tariff war bailout. What about our small and mid-size Georgia and other U.S. farmers? #TrumpsTradeWar https://t.co/xHKzKj6YAj— Teresa Tomlinson (@teresatomlinson) February 8, 2020
The Trump admin, confident that China will follow through on its agreement to buy more U.S. agriculture, plans to shutter its bailout program for farmers hurt by tariffs.— Kyle Griffin (@kylegriffin1) February 8, 2020
But allegations of unfairness and other criticisms continue to dog the initiative. https://t.co/qJQ1BwVviP
Farmers aren’t the only people hurting under these tariffs, either. United States steel, for example, has lost 80 percent of its market share since President Trump’s tariffs began.
President Trump says the steel industry has never done better, thanks to him. Which certainly explains why U.S. Steel ($X) has:— West Wing Reports (edited by Paul Brandus) (@WestWingReport) February 3, 2020
1) lost 80% of its market value since Trump's tariff war began
2) had major layoffs
3) slashed its dividend 80% today pic.twitter.com/PFJithENZa
Trump's steel tariffs on steel may have increased 1,000 jobs in steel production. Fine.— Chad P. Bown (@ChadBown) February 7, 2020
But costs increased. And that likely resulted in 75,000 FEWER American manufacturing jobs in firms where steel is a key input.
New from @Kadee_Russ & Lydia Coxhttps://t.co/nJkMjpkwFi
As for the Smiths, who voted for Trump in 2016? Their vote is going toward someone else.