Farmers hope for trade deal at G20 Summit

Agriculture

COUNCIL BLUFFS, Iowa (CNN) – Iowa farmers said they continue to feel the brunt of an ongoing trade war between the U.S. and China.

U.S. soybean, corn, and wheat growers have been impacted by tariffs from China for nearly a year now. Iowa farmers saying theyve lost a lot, and are fearing further losses could be in the future.

“We have to pay the bills. We can’t just keep going,” said farmer Ruth de Bruin. “The bank isn’t going to keep letting us go, right? You know, you’ve got to get to that point where you say, okay, what do we do now?”

Secretary of Agriculture Sonny Perdue made a visit to Iowa this week, saying American farmers are one of the casualties of the ongoing trade war, but he says there may be relief ahead. The president is heading to the G-20 summit in Japan in a few days where he’ll meet with China’s president to try to get trade talks back on track after a deal fell apart last month.

“I don’t think he’ll come home with a deal but I think he could come home with the beginning of a – let’s really get serious about negotiations,” Perdue said.

Iowa farmers worry that it might be too long. Farm bankruptcies were up 20 percent last year, the highest in almost a decade.

There is a little relief for farmers now as the president approved another bailout package for farmers last month, including $16 billion for farmers in 2019.

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