Two farmers in a field looking at a soy crop

Although the United States' 2024 presidential election was close — Donald Trump won the popular vote by roughly 1.5 percent — the GOP nominee had the clear advantage in rural agricultural areas. And farmers went for Trump in big numbers.

But for many U.S. farmers, Trump's steep new tariffs are a major hardship. Now, Trump is, according to the Daily Beast's Janna Brancolini, pushing for farm bailouts in response to the hardship his trade policies are causing.

"President Donald Trump will unveil a bailout plan this week for farmers whose markets have been destroyed by his signature economic policy," Brancolini reports in an article published on October 7. "'I'm going to do some farm stuff this week,' the president told reporters at the White House. That's Trump speak for finalizing a massive new aid program for farmers who have lost billions of dollars thanks to the president's tariffs, which sparked a trade war with China earlier this year."

Brancolini notes that Trump's tariffs on China are especially hard on farmers.

"American farmers are on track to sell $10 billion less in soybeans to China compared to last year, and sorghum exports to China — which last year totaled $1.3 billion — are down 97 percent this year, according to The (New York) Times. At the same time, the tariffs have pushed up costs for American farmers, who are facing higher prices for fertilizer and equipment at the exact moment that they've lost their biggest customer.

Over the last few years, interest rates have also risen, and prices have fallen for key crops."

Brancolini adds, "The result is that prices for nearly every row crop are lower than the cost of production," The Times reported. "Republican lawmakers estimate that farmers could need as much as $50 billion in economic support to weather Trump’s trade war."

Read the full Daily Beast article at this link (subscription required).