China's exit piles on to a devastating year for farmers, who've struggled through record flooding and droughts that destroyed crop yields, and trade war escalations that have lowered prices and profits down this year.
U.S. farmers lost their fourth largest customer this week after China officially cancelled all purchases of U.S. agricultural products, a retaliatory move following President Donald Trump’s pledge to slap 10% tariffs on $300 billion of Chinese imports.
"There's no incentive to keep farming, except that I've invested everything I have in farming, and it's hard to walk away." "It's really, really getting bad out here," said Bob Kuylen, who's farmed for 35 years in North Dakota. Kuylen, who farms roughly 1,500 acres of wheat and sunflowers, lost $70 per acre this year, despite growing good crops. Current government subsidies only cover about $15 per acre, he said.
Zippy Duvall, president of the American Farm Bureau Federation, said China's exit is a "body blow to thousands of farmers and ranchers who are already struggling to get by."
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