‘Trump is ruining our markets’: Struggling farmers are losing a huge customer to the trade war — China https://www.cnbc.com/2019/08/10/tru...2M4HvsFMhmCUjQ-OJoO21f9MfspC37yAOvEBqOVoJCW-Y Key Points U.S. farmers lost their fourth largest customer this week after China officially cancelled all purchases of U.S. agricultural products, a retaliatory move following President Donald Trump’s pledge to slap 10% tariffs on $300 billion of Chinese imports. China’s exit piles on to a devastating year for farmers, who’ve struggled through record flooding and droughts that destroyed crop yields, and trade war escalations that have lowered prices and profits this year. “It’s really, really getting bad out here,” Bob Kuylen, a farmer of 35 years in North Dakota, told CNBC. “There’s no incentive to keep farming, except that I’ve invested everything I have in farming, and it’s hard to walk away.” They [the White House] should start thinking about another major bailout,” he added. “Either you let a bunch of farmers go broke or you do another payout.” Allen Williams, who’s farmed for nearly 50 years in Illinois, said the trade war benefits no one, and that the government subsidies are an unjust expense for taxpayers. Subsidies have covered 8% of his gross receipts this year. “I’m very grateful to get subsidies, but they won’t result in making a loss into a profit for most grain farms,” he said. “And I don’t think it’s right for the American taxpayer to subsidize this segment of the economy just because of what I see as a mistake of a trade war,” he added.