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‘Farmers Are One Crop Away From Bankruptcy,’ Says Senator Thom Tillis. Warns Trump’s Tariffs Could Cause ‘Irreparable’ Damage To Them

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Senator Thom Tillis (R-NC) is raising serious concerns over President Donald Trump’s latest wave of tariffs, warning that they could do lasting harm to American farmers already struggling to stay afloat.

Appearing live on CNN, Tillis was direct. “Anyone who says there may be a little bit of pain before we get things right needs to talk about farmers who are one crop away from bankruptcy. They don’t have time,” he said.

“We’ve got to be quick on this implementation, otherwise we can do damage that’s irreparable to farmers.” 

Tillis’ comments echo growing frustration in farm states, where rising input costs and foreign retaliation are hitting rural communities hard.

Agriculture Secretary Brooke Rollins confirmed that the emergency aid programs are being set up to “mitigate any economic catastrophes” farmers may face.

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Trump promises riches, delivers bailouts

Trump has claimed his new tariffs would create a boom for the U.S. economy. “We’re going to become so rich we’re not going to know where to spend that money,” he said earlier this month.

But the reality on the ground suggests otherwise. The bailouts are coming before the tariffs have even fully taken effect.

Critics say this shows the policy is causing damage, not delivering wealth. The money for the farmer aid is coming from internal sources like the Commodity Credit Corporation, a federal fund that can borrow up to $30 billion from the Treasury.

“If a new regime of tariffs and retaliatory tariffs goes into effect, the question isn’t whether economic pain can be expected, but how much pain, for how long, and to what end?” said Watchdog group Taxpayers for Common Sense.

Rollins blames the EU, backs Trump

On CNN’s ‘State of the Union,’ Rollins defended the tariffs, accusing the European Union of blocking U.S. food imports using what she called “fake science and unsubstantiated claims.”

“Oh sorry, we can’t take your beef since 2002 because you use a certain type of feed. That’s just absolute bull,” she said.

She also dismissed concerns from conservative economists who claim the administration’s tariff math is flawed. “They’re just wrong,” Rollins said.

She praised Trump’s approach as a return to historical protectionism, comparing it to policies from Alexander Hamilton’s era. “We are unleashing a new golden age,” she said.

Farmers caught in the middle

Farmers are once again bearing the brunt of trade conflicts. With China, Canada, the European Union, and others announcing retaliatory tariffs on U.S. goods like soybeans, corn, and poultry, key export markets are slipping away.

Kenneth Hartman of the National Corn Growers Association warned that a prolonged trade war could result in a permanent loss of market share overseas. Even Iowa Governor Kim Reynolds, a Trump ally, admitted she’s working to soften the impact.

“We will make sure that we have the funds, working with the senators and appropriators, to do what we did last time,” Rollins said, referring to the billions in subsidies handed out during Trump’s first term.

But as Sen. Tillis made clear, there might not be much time left to act. For many farmers, this year’s crop might be their last chance to stay in business.

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Adrian Volenik
Adrian Volenik
Adrian Volenik is a writer, editor, and storyteller who has built a career turning complex ideas about money, business, and the economy into content people actually want to read. With a background spanning personal finance, startups, and international business, Adrian has written for leading industry outlets including Benzinga and Yahoo News, among others. His work explores the stories shaping how people earn, invest, and live, from policy shifts in Washington to innovation in global markets.

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