Soybean farmer who backed Trump feels strain of China's boycott amid trade war
With harvest season underway, farmers like Scott Gaffner are worried about what comes next amid a Chinese boycott of American soybeans.
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With harvest season underway, farmers like Scott Gaffner are worried about what comes next amid a Chinese boycott of American soybeans.
Soybeans are the United States' largest agricultural export. As the trade war drags on, China, America's biggest buyer, hasn't purchased any this year. The Trump administration could announce a more than $10 billion bailout this week, but farmers say their problems are much bigger.
It's prime harvest season in southern Illinois, but for soybean farmers like Scott Gaffner, what's usually a time of reward is now a season of worry. Janet Shamlian reports.
Soybean farmers have been hit particularly hard, as China boycotts American soybeans.
CBS News has learned the Trump administration could announce a multi-billion dollar financial relief package this week for farmers being hurt by the president's trade war with China. Lana Zak talked to soybean farmers fearing they may be forced out of business.
This week, President Trump is expected to announce billions of dollars in aid for the nation's farmers. Many are in financial crisis and may be forced to sell their crops at steep losses this year as China, once the largest buyer of the U.S. soybean exports, retaliates against U.S. tariffs. Lana Zak has more.
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