Iowa farmers worry about trade war, wary of aid package

President Trump was in Iowa this week to promote a new White House workforce development initiative, but perhaps the workers listening the most intently were farmers.

That's because President Trump is leading a new trade war with China that's put American farmers on the front lines whether they like it or not.

Iowa is known for its Field of Dreams but these days, it isn't here.

Corn and soybean prices have been stubbornly low for years and now it seems Washington has made things worse.

President Trump's hardline approach has sparked an escalating trade war with China prompting a 25 percent tariff on American soybeans which sent prices to a 10-year-low.

Iowans overwhelmingly voted for President Trump, but Clark Porter, whose family has farmed here for over a century, wasn't one of them.

"This is just an open ended conflict and who knows where its going to end," Porter said.

This week the White House announced a $12 billion assistance plan to help farmers like Porter.

"It's essentially taking government money. It's absolutely, it was absolutely unnecessary. I don't think we should have even gotten into this position," Porter said.

He's not alone.

The president of the Iowa Farmers Union called Trump's approach "extremely reckless," and Kim Reynolds, the republican governor up for re-election warned that "nobody wins in a trade war."

This week, she politely pushed the president to make a deal, and fast.

"We need to get things done sooner rather than later so that was my message," Reynolds said.

Things are getting done, but with Europe.

After a brief trade spat, Trump touted his deal to make deal on free trade with the Bloc.

"We just opened up Europe for you farmers, you're not going to be too angry with Trump, I can tell you," President Trump said.

A deal with Europe is far from finished, neither is the trade war with China.

But for all the president's trade war skeptics in Iowa, he still has plenty of believers, like David Danker and his son Hunter who farm corn and soybeans.

"I think this should have been done a long time ago," David Danker said.

"It will hurt for short term but in the long run I think it will work out better for everybody," Hunter Danker said.

The good news is that many Iowa farmers say they are expecting a very healthy-sized harvest this year. But higher production volumes usually also means lower prices. That $12 billion federal aid package will help in the short-term, but farmers may need more if this trade battle doesn't end soon.