Wall Street Journal Editorial Board:
“One reason the Farm Belt is struggling is lower exports to China despite the recent tariff truce. The U.S. exported $5.5 billion in farm goods to China in the first half of this year, roughly half as much as in the same period a year earlier. The overall U.S. agricultural trade deficit hit a record in the first half of this year, rising to $28.6 billion. Farm exports used to be an American strength.”

“House Ways and Means Chairman Jason Smith issued a press release last week based on his op-ed in the Washington Examiner headlined “Trump’s trade agenda will fuel an economic boom.” The Missouri Republican hails from the Farm Belt so we wonder if he has spoken with workers at Deere & Co.”

“The farm equipment maker is an American manufacturer that Republicans say tariffs will help. Maybe not. The Moline, Ill., company is laying off 238 workers at three factories in Moline, East Moline, and Waterloo, Iowa, in the coming weeks.”

“This month the company reported a 26% drop in net income and 9% decline in sales, owing to lower commodity prices and higher tariffs. “Tariff costs in the quarter were approximately $200 million, which brings us to roughly $300 million in tariff expense year to date,” said director of investor relations Josh Beal.”

https://www.wsj.com/opinion/deere-tariff-costs-farm-belt-jason-smith-donald-trump-josh-beal-f42ea4ab