Wisconsin shed 10% of its dairy farmers last year, according to data from the state’s Department of Agriculture, Trade, and Consumer Protection.
It marked the biggest drop in a single year, and underscored the negative impact of Trump’s trade war in a state critical to his re-election bid.
Last year, China slashed its purchases of American dairy products by 50%, helping to throw scores of farmers out of business.
The business environment has particularly worsened for small farmers.
Visit Business Insider’s homepage for more stories.
Wisconsin shed 10% of its dairy farmers last year, data from the state’s Department of Agriculture, Trade, and Consumer Protection shows.
It marked the biggest one-year drop on record, and underscored the negative impact of Trump’s trade war on a swing state critical to his re-election bid.
In 2019, Wisconsin lost 819 dairy farms, the department said, leaving 7,292 dairy farms in place. The state leads the nation in the number of farm bankruptcies, according to the American Farm Bureau.
After Trump launched his trade war against China and other friendly nations in 2018, China responded by slapping hundreds of billions of dollars worth of tariffs on American products.
Last year, China slashed its purchases of American dairy products by 50%. Combined with falling milk prices, the trade war has thrown many farmers out of business. The economic environment has worsened considerably for small dairy farms in particular.
The state’s coveted 11 electoral votes went to Trump by 23,000 votes in 2016 — or less than one percentage point — a razor-thin margin that promises to make it another key battleground in the 2020 election. Additional volatility could weaken his support among farmers, though their backing remains strong.
Farmers have suffered significant business losses because of the trade war, resulting in a $28 billion bailout package that’s double the amount the …read more
Source:: Business Insider