Farm bankruptcies surge amid U.S.‑China trade war
U.S. farmers are facing rising bankruptcies and acute financial stress as China—once the largest buyer of U.S. soybeans—retaliates against U.S. tariffs, forcing some growers to sell crops at steep losses. The situation has prompted the White House to prepare a multibillion‑dollar aid package this week to shore up the agricultural sector, sources and CBS News reporting indicate. CBS reporter Lana Zak documents growers' strain and the broader market fallout from the trade dispute.
Economy
International Trade
📌 Key Facts
- President Donald Trump is expected to announce 'billions of dollars' in aid for U.S. farmers this week.
- China’s retaliation against U.S. tariffs has reduced purchases of key U.S. exports such as soybeans, worsening farm revenue and contributing to a rise in bankruptcies.
- CBS News reporting (Lana Zak) highlights farmers forced to sell crops at steep losses and the federal government preparing targeted assistance.