President Donald Trump’s aggressive trade policy has created uncertainty and opportunities in all American land when farmers and small business owners wrestle with the effects of their government tariff decisions in their first 100 days.
According to ABC News/Washington Post/Ipsos New -New selection53% of Americans believe that the economy has worsened since Trump served, with 72% expressed concern that economic policy could trigger a recession.
The impact of this policy plays dramatically in two very different American economic sectors: agriculture and fishing.
In Racine, Wisconsin, where agricultural roots went deeper than the civil war, soybean farmers witnessed the trade war with an increase in anxiety. Kevin Malchine, whose family has worked on the same land for six generations, described the current situation as “restless.”
Kevin Malchine is concerned about Trump’s new rate.
ABC News
“We are dealing with floods and drought and too hot, too cold, insects, weeds, all that,” Malchine said. “It feels like the tariff is a little more difficult to handle because it is entirely out of our control.”
The stakes are very high for soybean farmers. Last year, Malchine said China bought 42% of American soybean production, representing nearly $ 13 billion in sales to American farmers. With Trump which applies a tariff of 145% to Chinese products and a rate of 125% China’s retaliation for American goods, including soybeans, farmers like Malchine face an uncertain future.
“These markets have been made for decades, many administration, and here he tried to fix it in 100 days or 200 days,” Malchine explained. “This will have a big impact.”
Heart farmers who care about tariffs.
ABC News
The solution is not as simple as changing plants, according to Malchine. “I know some people think, well, just raise different plants,” Malchine said. “That’s a big change to turn around when you talk about the production of AG midwest, corn, soybeans and what we do. It will take years to change what we will do.”
While farmers are preparing for the impact, some small business owners have found opportunities in trade war upheaval. In Charleston, South Carolina, shrimp like Rocky Magwood told ABC that they saw the potential benefits of tariffs.
“The tariff is very good that they are there for now. To bring awareness,” said Magwood, who has been on the shrimp ship since he was six weeks old with his father.
In an industry where 94% of shrimp consumed in America are imported, local shrimp have struggled to compete with imports at lower prices.
The impact is very destroyed on the local industry, according to Magwood, who said when he started, “There are 100 ships at Shim Creek. There are six of us now. However, recent developments have brought hope.” The shrimp arresting wild carolina southern, we don’t even have in the freezer, we are sold out, “he said.
When Trump’s administration navigating a 90 day pause in tariffs for most countries except China, the consequences of this policy continue to rustle through the economy. Large retailers, including Walmart, Target, and Home Depot, have warned the White House that the tariff continues to cause empty shops.
Back at Wisconsin, Malchine remains realistic about the future.
“The impact will come, and it will have a real impact over time,” he said. “If you really want to know what the impact, come and visit me six months from now or next year.”
Apart from uncertainty, he maintains the characteristics of the resilience of American farmers, “There are times when we face the difficulty of time. This gives you confidence and belief that you will be able to face this storm. And hopefully it is faster than later that we get a resolution.”