In the 3 years since Trump took office, farm bankruptcies have increased by 120%
SAINT PAUL, MINNESOTA – During last night’s State of the Union, Donald Trump bragged repeatedly about the success of his trade policies, but the opposite is true here in Minnesota. The Star Tribune recently reported that farm bankruptcies in Minnesota continued to grow in 2019, following a trend of recent increases resulting from President Trump’s trade wars.
In 2019, 30 Minnesota farms filed for Chapter 12 bankruptcy, a provision of bankruptcy law designed specifically for family farmers. In the three years prior to Donald Trump taking office, an average of just over 11 farms filed for Chapter 12 bankruptcy a year. In the three years since Donald Trump took office, that average shot up to 25, an increase of over 120%.
“President Trump took office promising better trade deals, but the reality is that Trump’s presidency has been a complete disaster for Minnesota farmers,” said DFL Chairman Ken Martin. “Our family farmers have spent years building trade ties with overseas markets, and Donald Trump wiped away all that hard work by launching his reckless trade war with China. Restarting those trade relationships will take our farmers a long time, during which more Minnesota farms will likely go bankrupt. The damage Donald Trump has done to Greater Minnesota could last for generations.”
Minnesota Farm Bankruptcy Data:
