Trade war again pinches farmers, leading to $12 billion bailout

So much for cutting federal spending.

Just recently, President Trump announced a new $12 billion payout to American farmers.

It's not a reward for great work – farmers produced another record crop this year.

No, it's a bailout for a failed tariff war with China, that largest customer for our agricultural crops.

President Trump loves tariffs, no doubt about that, despite the fact that when you place an additional tax on foreign goods, it gets passed on eventually to us at the cash register.

But his attempts to get China to buy more American goods, especially soybeans and corn, have backfired, n...