U.S. farms faced a surge of bankruptcies in 2019, up 20 percent despite aid efforts from Washington.
President Trump’s administration allocated $28 billion in aid for farmers affected by his trade war with China in the past two years, but bankruptcies were recorded at the highest level since 2011, according to the American Farm Bureau’s study.
The bureau said there were 595 Chapter 12 family farm bankruptcies last year.
In addition to retaliatory tariffs from Beijing that hurt soybean exports, U.S. farms were also impacted by Trump’s trade negotiations with Mexico and China.
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US farm bankruptcies jumped 20 percent in 2019 despite federal aid for those affected by Trump trade war https://t.co/tJhHxYl35Z pic.twitter.com/gGDO90SJ8Y
— The Hill (@thehill) January 30, 2020
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