From equipment to exports, tariffs squeezing NC farmers
>> JAY STORY BETTER TROOP.
>> IT IS THE LATEST CHAPTER NOW
IN THE U.S. TRADE WAR WITH
CHINA. THIS TIME NORTH CAROLINA
FARMERS ARE CAUGHT IN THE
MIDDLE OF THIS TUG OF WAR OVER
TRADE DOMINANCE HAS THE SOYBEAN
CROP IN JEOPARDY? SOYBEANS ARE
643 MILLION DOLLAR BUSINESS
FOR NORTH CAROLINA. AND NOW
BOTH THE RISING COST TO GROW
THEM.
>> AND CHINA'S BOYCOTT OF
AMERICAN SOYBEANS. IN RESPONSE
TO THAT TRADE WAR. HAVE FARMERS
REALLY WORRIED ABOUT THEIR
FUTURE? WRAL'S HEIDI KIRK SHOWS
US WHAT'S AT STAKE.
>> TRUMP'S TRADE WARS IMPACTING
FARMERS NATIONWIDE. BUT
ESPECIALLY HERE IN NORTH
CAROLINA. AND THAT'S BECAUSE 10
OR 20 YEARS AGO WHEN TOBACCO
SALES SLOWED, MANY FARMERS
SWITCHED TO SOYBEANS. AND NOW
THAT'S ONE OF THE BIGGEST CASH
CROPS HERE IN THE STATE.
AT THE HEART OF A SOYBEAN
FIELD. THE REND OVERMAN FEELS
RIGHT AT HOME. THESE ARE LITTLE
SMALL BECAUSE WE'VE NOT HAD
ANY RAIN LIGHTLY. BUT THESE ARE
SOYBEANS. HER HUSBAND'S FAMILY
HAS BEEN FARMING IN WAYNE
COUNTY FOR GENERATIONS. BUT
THIS YEAR COMES WITH NEW
CHALLENGES ARE NOT NOT SAYING.
>> THIS LEVEL OF CONCERN AND
AGRICULTURE AND LONGTIME
TRUMP'S TARIFFS HAVE LED TO
RISING COSTS ON THINGS LIKE
SEED FERTILIZER AND EVEN FARM
EQUIPMENT.
>> SO MUCH SO THAT OVERMAN
ISN'T SURE HOW THEY'LL PAY BACK
THE LOANS THEY TAKE OUT YEARLY
TO START THEIR SEASON. WE DON'T
SLEEP SOME NIGHTS WORRYING
ABOUT IT. WE DON'T SLEEP SOME
NIGHTS.
>> I TRIED WARNING ABOUT HOW
WE'RE GOING TO FIGURE OUT HOW
TO PAY THAT LOAN BACK AND AND
PAY OUR BILLS. AND NOW THE NEWS
THAT ONE OF THE BIGGEST BUYERS
OF U.S. SOYBEANS, CHINA IS
BOYCOTTING THE PRODUCT HAS BEEN
EVEN MORE CONCERN. THE CONCERN
IS.
>> THAT.
>> CHINA IS GOING TO FIND
ANOTHER MARKET THAT IS EASIER
AND BETTER.
>> AND THEY WON'T COME BACK.
PRESIDENT TRUMP IS PROPOSED IN
AID PACKAGE FOR U.S. SOYBEAN
FARMERS AMID THE BOYCOTT AND HE
CLAIMS A NEW SOYBEAN DEAL IS ON
THE TABLE. BUT FARMERS LIKE
OVERMAN FEAR THAT IF IT
HAPPENS, IT'LL BE TOO LATE TO
SELL THIS YEAR'S CROP. WHAT
WOULD HAPPEN IF CHINA FOUND
ANOTHER BUYER OF SOYBEANS TO
YOUR BUSINESS? I HAVE NO IDEA
WHAT WE'VE BEEN TO NOW ANY SORT
OF FEDERAL ASSISTANCE WOULD BE
A HUGE GAME CHANGER FOR THE
SOYBEAN FARMERS.
>> THEY TELL US THEY'RE WAITING
ANXIOUSLY TO HEAR ABOUT THE
FATE OF THAT AID PACKAGE.