On-going Trade War Impacts Farm Loans
With the Chinese trade war and a harsh spring, the American ag economy is struggling. But according to one study, some sectors are hurting even more than others.
Dr. Ernie Goss is an economics professor at Creighton University in Omaha, Nebraska and he regularly conducts surveys of ag bankers in his region. He says the biggest impact of the trade war is uncertainty across the entire ag sector. The result is some farmers not being able to repay their farm loans, so he outlined what he thinks should happen to get things back on track.
Dr. Goss added that if things don’t change there will be more farm loan issues in the near future.