Trump's Betrayal of American Soy Farmers: A 90-Second Crash Course
In a stunning display of hypocrisy, President Donald Trump is expected to announce a massive aid package for soy farmers hurt by his trade war with China, despite the fact that China has purchased zero dollars worth of US soybeans this season and has no future orders planned.
According to Treasury Secretary Steven Mnuchin, the aid package will be in the billions of dollars. However, some farmers are questioning the move, saying it misses the point. "We don't want any payments," said a frustrated farmer who wished to remain anonymous. "We want to sell our soybeans to China without being held back by Trump's trade policies."
Background checks reveal that China is the world's largest soybean importer and typically buys about half of the US crop, amounting to $12.6 billion last year. However, this summer, China has purchased zero dollars worth of soybeans from the United States and has no future orders planned.
The move comes as a surprise, given Trump's repeated claims that his trade policies would benefit American farmers. In fact, the opposite appears to be true. Last week, Mnuchin announced that Trump was giving $20 billion in economic aid to bail out the far-right government of Argentina, a main US competitor in the soybean market.
The influx of cash from Trump allowed Argentina to remove its own export taxes on soybeans, making it an even more attractive option for China. "It's a betrayal of American farmers," said a senior agricultural expert who wished to remain anonymous. "Trump is essentially giving away our market share to Argentina."
Farmers are struggling, and the lack of sales to China has had a devastating impact on their livelihoods. "We're not just talking about numbers here; we're talking about families who depend on this crop for their income," said the same expert.
The aid package is expected to be announced tomorrow, but it remains to be seen whether it will address the underlying issues driving the crisis. As one farmer noted, "It's a Band-Aid solution that doesn't fix the problem."
Implications and Next Developments
The situation has far-reaching implications for American farmers, who are struggling to make ends meet due to Trump's trade policies. The aid package is expected to be in the billions of dollars, but it remains unclear whether it will be enough to mitigate the damage.
As the situation continues to unfold, one thing is clear: Trump's betrayal of American soy farmers has left a trail of devastation in its wake.
*Reporting by Motherjones.*