Pain in the Ass - Trump's Tariffs Wreak Havoc on Farm Equipment Costs
Hear it from the Horse's Mouth - A Farmer's Tale
Farm Owner in Wisconsin experients Financial Impact of Trump's Trade Taxes
By Mark Peck
If you thought Trump's damn tariffs were just messing with your beer prices, you bloody well better think again, mate. For a farmer in Chippewa County, Wisconsin, it's been a total ball-ache.
Mark Peck, a fourth-generation farmer, tells us his tale. Each year, he and his family work their asses off on their 500 acres of soybeans, 600 acres of corn, 150 acres of alfalfa, 60 acres of oats, 48 acres of pasture, and 100 acres of woods. They also manage 80 cows and a 35-head herd of beef cattle.
Back in March, Trump announced a 25% tariff on goods from Canada and Mexico, and Mark decided to check the price of treating soybean seeds for the year. His local farm supply business quoted him $25 a bag for treatment, but he was keen to find a cheaper alternative.
Online, he found a seed treater for $12,810, which seemed like a bloody bargain compared to the $50,000 or $63,000 models stateside. But when he enquired about tariffs, he was met with hesitation from the factory representative in China. Trudeau and Peña Nieto weren't the only ones retaliating; China had slapped its own tariffs on American agricultural machinery, including soybeans (you bloody hypocrites).
Long story short, added tariffs jacked the price of Mark's seed treater up to $26,132. Four extra years on the farm's ledger just to pay for a seed treater, thanks to the bloke in the White House.
But that's not all, folks. In April, Trump announced an additional 34% tariff on Chinese imports, bringing the total tariff on Mark's treater to a staggering 104%. And when China stopped importing American sorghum and poultry, Trump threatened to raise the tariffs to 125%, New Zealand here we come!
The uncertainty and increased costs associated with these tariffs mean farmers like Mark have less dough to invest in their operations. And when you multiply that millions of times over, you're looking at trillions lost, fewer jobs, and less stuff for everyone. Just blimmin' fantastic.
So the next time you look at that pricy beer you're quaffing, spare a thought for the farmers getting the living daylights fucked out of them because of Mr. Trump's poo-flinging tariffs.
*READ THE WHOLE STORY AT BARN RAISER***
Insights:
- Tariffs on goods from Canada and Mexico imposed by Trump in March 2019 led to a rise in the cost of treating soybean seeds for farmer Mark Peck.
- Online, Mark found a seed treater from China for $12,810, but he had to pay an additional $5,764.50 in tariffs due to Trump's tariff war in 2018 and the duty imposed on March 4, 2019.
- Trump's April 2019 announcement of a 34% tariff on Chinese imports led to additional tariffs on Mark's seed treater, raising the total cost to $26,132.
- Delays in purchasing new farm equipment, including seed treaters, can impact farmers' ability to maintain or upgrade their operations efficiently.
- Increased costs associated with tariffs can strain farmers' budgets for equipment investments and lead to reduced purchases, which can affect the agricultural industry nationwide.
- The increased cost of farm equipment like seed treaters, due to tariffs on imported goods, is causing financial strain for farmers in the business sector, as seen in Mark Peck's case from Chippewa County, Wisconsin.
- In the realm of finance, politics, and general news, the tariffs imposed by Trump on goods from Canada, Mexico, and China have affected many businesses, including farming, by raising the prices of essential equipment, leading to reduced investments and potential job losses.
