A soybean farmer from Kentucky is now pleading with President Donald Trump to make the first move to end the rapidly escalating trade war with China before his farm is wiped out.
Newsweek reported that Caleb Ragland, who is president of the American Soybean Association, recently wrote an essay published in conservative journalist Bari Weiss’ The Free Press about how the new import taxes Trump imposed on China are affecting his business. He pointed out that because tariffs on China have skyrocketed, his farm will likely go under by 2027 if current trade duties stay constant.
“Like many of my fellow farmers, I voted for President Donald Trump in the past three elections. The president won me over with his commitment to business-friendly tax cuts as well as his track record of reducing regulation and cutting government spending,” Ragland wrote.
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“I am one of the 500,000 soybean farmers in America who feels the pain. I rely on my own farm for 100 percent of the income for my family and the families of our three full-time workers,” he continued. “We have 1,500 acres of soybeans on my farm. At $600 an acre, our production costs are $900,000. But in the current climate, an acre brings in only $500 of revenue, which means we’re yielding $750,000—a $150,000 loss.”
“As a businessman, President Trump must know how urgent this is. The current trade war with China is a gamble with American livelihoods, especially for farmers — those of us who grew up with soil and sweat — who can’t imagine doing anything else,” he added. “Mr. President, I hope you hear our plea: Please make a deal with China now.”
Even as Trump paused his tariffs on the rest of the world for 90 days, he kept his tariffs on China in place, which is currently at 145%. China has since retaliated with a 125% hike on tariffs for goods imported from the United States. However, as CNN reported, while Trump is expecting China to make the first move to end the trade war, Chinese President Xi Jinping is not planning to blink anytime soon.
“For over 70 years, China’s development has relied on self-reliance and hard work — never on handouts from others, and it is not afraid of any unjust suppression,” Xi said.
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Click here to read Newsweek’s report, and click here to read Ragland’s essay.
