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US Farmers Call For Third Farm Bailout If Trade War Intensifies

by Tyler Durden
Thu, 06/20/2019 - 08:27

This year's corn crop has been absolutely decimated by constant rain and unseasonably cold weather. Trade wars have collapsed American exports of soybeans to China, as foreclosures and bankruptcies are now rippling through the Midwest's agricultural sector at disturbing speeds.

The US farm lobby said Tuesday that a third farm bailout would be needed if Washington grinds to a halt during the 2020 US election cycle limits President Trump from closing trade deals and reopening top export markets, reported Reuters.

American Farm Bureau Federation President Zippy Duvall said if Congress fails to approve the United States-Mexico-Canada Agreement (USMCA), then other trade deals between the European Union and Japan could remain unresolved.

Farmers have already felt a tremendous loss of momentum in exports to China. They're now hoping countries like Europe and Mexico can purchase additional agriculture products.