Trump's tariffs created a crisis for farmers by driving up fertilizer costs, destroying export markets and forcing taxpayers to fund a $12 billion bailout that won't even cover the $44 billion industry loss. This arbitrary protectionist policy amounts to central planning that picks winners through flattery and rent-seeking while leaving farmers worse off than before the trade war started.
Biden's economy devastated American agriculture with crushing input costs and brutal interest rates, leaving the smallest cattle herd in 75 years. Trump's $12 billion assistance program bridges the gap between Biden's failures and successful new policies that are already bringing prices down and rebuilding confidence across the farming sector.
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