"Have fun!"
In another one of those "WTF moments", Dear Leader announced 25% tariffs on both Canada and Mexico and then urged American farmers (most of them voted for him) to "have fun!" -- presumably by switching sales to the domestic market... Pls save me from people who have no effing clue how the world actually works. Some figures:
- 80% of potash (used for fertilizers) is imported from Canada = more expensive for US farmers;
- the US is the largest importer of agricultural machinery (with Canada leading the pack of exporters) = more costly to farmers;
- 64% of US agricultural exports go to Canada, and 14% go to Mexico. Canada has already reciprocated its import tariffs and Mexico will announce its actions this weekend = projected decrease in demand abroad; good luck for making this up domestically;
- American farmers supplied 41% of all the food aid distributed by USAID = that market is all gone now that that agency has been dismantled;
- during Dear Leader's last tenure, 20% of farmers went bankrupt when he started his then trade war with tariffs -- and that's in spite of the $28 billion aid package he ended up having to provide to them...
So, I sure hope American farmers will have fun figuring out which way's up now. The only ones standing to gain anything in that debacle are the massive corporate farms and the private equity groups who will swoop in and snatch up land that family-based farmers will have to surrender for pennies to the dollar.
Are we making American great yet?
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