The state of Wisconsin has shed its 10% of the dairy farmers in the previous year as per the data from the department of trade, consumer protection and agriculture of the state.
It has marked the biggest single year drop on the records and has highlighted the negative effects of the trade war of Trump on the state which is critical to the reelection he is looking for this year.
In the year 2019, the state had lost 819 farms of dairy as per the department and left 7292 dairy farms in place. The state is leading the nation in a lot of the farm bankruptcies as per the authorities.
Post the launch of his trade war against the Asian country against China and the other nations in the year 2018, China has responded too by retaliatory tariffs of many billions of dollars of tariff on the products of America.
In the previous year, China has been slashing its purchase of the dairy products of America by 50%. In combination with the falling prices of milk, the trade issues have thrown a lot of the farmers out of their businesses. The environment of economics has seen a worsening of the smaller dairy farms especially.
The farmers have been suffering a significant loss of business because of trade war which have resulted in the bailout package of $28 billion which is double the level which government forked to the automakers of Detroit at the very heights of recession 10 years ago.
A greater share though of that aid might only be reaching the richer farmers. An environment group has said that in a particular study which had been released in the month of November that the farmers who are wealthy have drawn the large payments of cash in comparison to the poor ones.
With an experience of 5 years and holding the position of Editor-In-Chief, David Moran is among the best assets we have. Having a professional writing skill set, he deals with writing reports and articles linked to the business world. He holds the responsibility to write everything relating to mergers & acquisitions, agreements & deals, latest news, recent trends, and so on. Being a fitness and health freak, David indulges into a few sports activities in free time.