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#1 User is offline   pepperonikkid 

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  Posted 08 February 2019 - 08:42 PM

No, Trump's tariffs did not spark a wave of farm bankruptcies



https://www.americanthinker.com

By Jack Hellner
February 8, 2019




Article:


The Wall Street Journal has been against Trump's trade tariffs, and any chance its writers get, they will put blame on the tariffs for bad things, even when it is obvious they are not to blame.

On Thursday, they had a front-page story that attributed a wave of Chapter 12 bankruptcies (50 total in the U.S.) partially to small tariffs put in place by Trump in 2018. Any business reporter with a brain knows that those small tariffs had nothing to do with bankruptcies that occurred in 2018. Those farmers had to be struggling with too much debt for years, and they finally threw in the towel to do a bankruptcy workout program. So the tariffs absolutely did not cause the bankruptcies in 2018.

It is the debt that caused the problem, not a minor decrease in prices in 2018. Farmers also had record corn and soybean production and yields in 2018. The extra yield would have helped. Has the WSJ attempted to determine how much of the price decrease is related to extra yield and inventory, or are these people so wedded to blaming Trump for the tariffs that they don't care?



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