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I warned in May that America’s farm economy was under attack – that tariffs, Agriculture Department program cuts and political posturing in Washington were hammering farmers from the farm gate to the dinner plate. Four months later, that picture has only grown worse.
Across the Midwest, combines sit idle and bins overflow with unsold grain. Corn prices are down nearly 50% since 2022. Soybeans have dropped 40%. Fertilizer and equipment costs are up double digits. And 8 in 10 farmers now say they believe the U.S. is on the brink of another farm crisis reminiscent of the 1980s. They’ve even given it a name: Farmageddon.
This time, the crisis isn’t a result of macroeconomic conditions – it’s a direct result of decisions made by the White House. President Donald Trump’s reckless tariff war is crushing America’s farmers.
Take soybeans. China has retaliated on U.S. tariffs with a total boycott of U.S. soybeans, leaving bumper crops rotting in silos across Ohio, Iowa and Illinois. Meanwhile, new tariffs on fertilizer, steel and equipment have driven up production costs for nearly every crop and commodity.
The math doesn’t pencil out: higher costs on the front end, lower prices and fewer markets on the back end. It’s a squeeze no amount of wishful thinking can fix.
And while U.S. farmers struggle to move their grain, the administration just finalized a bailout for Argentina – a country that turned around and cut a deal with China to buy its soybeans instead of ours. Think about that: Washington is bailing out a competitor to our farmers on the brink of crisis.
Unfortunately, we saw this same movie during Trump’s last trade war. Farm bankruptcies soared to record highs, and Brazil walked away with our export markets. Now Argentina is lining up to do the same. And everyone knows that once you lose market share, you rarely get it back.
This isn’t just economics. It’s deeply personal. It’s the difference between keeping the family farm for another generation and auctioning off the tractor. It’s the creases across an Ohio farmer’s face as he struggles to tell me he’s not sure whether he wants his children to have this way of life.
And the White House is only making it harder. Despite total control of Washington, the president’s party has shut down the government rather than extend enhanced premium tax credits that keep healthcare affordable. Finding affordable healthcare as a farmer is difficult enough as it stands. But now, premiums are set to skyrocket. In fact, in rural countries, premiums are set to increase an average of 107%, a larger increase than in our cities.
Moreover, when USDA shuts down, farmers get shut out. That means delays to critical farm loans, conservation payments and disaster relief. For farmers, it’s a double whammy: no markets, no safety net, and now, no one to pick up the phone.
What is the solution? Well, the president is floating a $14 billion bailout for farmers – a temporary fix for a self-inflicted wound. We saw how this went in the first trade war, when payments were mismanaged and failed to help the farmers who were hardest hit.
Even the president’s allies are skeptical. I agree with Sen. Jim Justice, R-W.Va., who said funding bailouts with tariff revenue is “like putting a Band-Aid on cancer.” Farmers don’t want bailouts; they want a fair shake. They want open markets, stable policy and a government that has their back.
So let’s be clear: there is a way out of this mess.
First, reopen the government and extend the enhanced premium tax credits that a quarter of all farmers rely on. It’s time to get the USDA back to full strength and ensure that rural families can afford their health coverage.
Second, end the trade war that’s hollowing out American agriculture. Stop punishing the very people who feed and fuel this country.
Third, if the president won’t end his reckless trade war, Congress must step in to reclaim our constitutional authority over tariff policy. I plan to introduce legislation soon that would require USDA to report on the impact of any proposed tariffs on farm country, giving farmers an extra tool to plan for the future. I welcome my colleagues on both sides of the aisle to join.
And finally, let’s expand domestic markets by authorizing year-round E15 fuel. This is a commonsense, bipartisan step that would boost corn demand, lower gas prices and strengthen our energy independence.
This is only a start, but our farmers need a real plan.
Because what’s happening in farm country isn’t some distant problem. It’s America’s problem. When farms go under, towns go quiet. When farmers stop buying seed, tractors and feed, the hardware store closes, the diner empties and the local school loses its tax base. The ripple effects reach every kitchen table in America – in the cost of food and in the strength of our economy.
President Trump can end this crisis today by reopening the government and ending the trade war that’s driving farm country to the brink. And if he won’t, Congress should step up and do it for him.
Because this isn’t just about crops or commodities. It’s about a way of life that feeds our nation, fuels our economy and defines who we are.
If we let that slip away, we’ll have no one to blame but ourselves.
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