
Chinese and American negotiators announced on Sunday that they had agreed to a “framework of a deal” on tariffs ahead of President Donald Trump’s expected meeting with Chinese President Xi Jinping. But in the meantime, farmers are getting walloped by Trump’s trade war with China. During Trump’s first term in office, his tariffs led to steep price drops in American soybeans, prompting massive bailouts for struggling farmers. And now farmers are facing more of the same – with no certainty of another bailout this time. So we called Phil Verges, a soybean farmer in western Wisconsin, to talk about what he’s seeing and hearing from farmers just like him. And in headlines, President Donald Trump finds a private, billionaire donor to pay U.S. military service members during the government shutdown, Trump officials continue to play the shutdown blame game, and U.S. beef farmers beef with Trump over… beef.
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It's Monday, October 27th. I'm Jane Costen, and this is what a day. A show that read a Wall Street Journal piece about how the big thing holding robots back is that researchers can't create an equivalent to the human hand and thought, I'm actually okay that robots do not have humanoid hands. Actually, I'd rather they never have humanoid hands. On today's show, President Donald Trump find private billionaire donor to pay US Military service members during the government shutdown. And US Beef farmers beef with Trump over beef. But let's start with tariffs, one of Donald Trump's favorite things. That view is probably not shared by most American farmers, farmers who are getting hit hard by Trump's trade war with China, the predominant buyer of American soybeans. Trump is in Asia this week, and on Sunday, Chinese and American negotiators announced that they had agreed to a, quote, framework of a deal on tariffs. If you're like me, that sounds a little bit like Trump's concepts of a plan on Healthcare from 2024 and doesn't answer the real anxieties thousands of American farmers are feeling right now. Remember that during Trump's first term in office, a trade war with China resulted in price declines for soybeans hitting 30%, which led to massive bailouts, like $32 billion in 2020 alone. Massive. And now farmers are facing more of the same, with no certainty of another bailout this time. But don't worry. Treasury Secretary Scott Bessant feels the pain of the American soybean farmer. Here he is Sunday on ABC News this Week.
B
Well, Martha, in case you don't know it, I'm actually a soybean farmer. So I have felt this pain, too. And there are a couple of things happening here.
A
Just a quick fact check there. Scott Besant, who is worth an estimated $600 million, is not a soybean farmer. But according to his financial disclosures, he owns land used for soybean and corn farming, land that generates rental income for him to the tune of between $100,000 and $1 million a year. So not a soybean farmer, more of a soybean landlord. But Phil Verges is a soybean farmer. He's been farming corn and soybeans in western Wisconsin for decades. And he came up during our conversation with Wisconsin Democratic Senator Tammy Baldwin a few weeks ago. So we decided to call Phil and talk about what he's seeing and hearing from farmers just like him. Phil, welcome to Whataday.
B
Well, thank you, James. Great to be with you today.
A
When we spoke with Wisconsin Democratic Senator Tammy Baldwin. A week or so ago, she mentioned having a conversation with you about the impact tariffs have had on your business. But before we get into that, can you just tell me about what you do?
B
Well, sure. I've been a lifelong farmer. It's hard to believe. Been about 45 years now, out of college. Was dairy farming with my dad. Dad for a number of years. And for the last 30 years, I've been a crop farmer. I grow soybeans, corn and some hay, about 500 acres. I farm one man show, do it all alone a lot of places, you know, interview these guys that run thousands of acres. I'm in today's world more on the smaller side, but it definitely keeps me busy and, you know, it's something I've always enjoyed doing, being out with nature every day and, you know, being your own boss, stuff like that. So it's been real pleasure to be able to do what I've liked all my life.
A
So what happened to your business when tariffs were implemented at the federal level?
B
Well, it's been tough on things. You know, the first round of tariffs was back in 18 or 19, and before that, China was buying about one third of the soybeans that we produce here in the US and that was a tremendous market, a market that we've been building for decades, really. And, and that first round of tariffs, it definitely depressed our prices. It was a shock to our market, and I think it set the stage for China to be less dependent on us. And in the meantime, they've definitely invested in South America and switched their business there. Now, with the latest round of tariffs here this current year, that's kind of the nail in the coffin, I would say, as far as just our reputation globally with our trading partners. And that has, you know, had dramatic effects on the prices that we've been receiving for the crops that we grow. Currently, with today's prices, I'm losing probably about $85 an acre on soybeans that I'm growing. Corn has been affected as well. Depending on how the yields come in. You know, we hopefully are making a little money on corn, but that remains to be seen yet.
A
Yeah, I want to ask about those first tariffs back in 2018. How did those affect your bottom line and your ability to just make ends meet?
B
Well, it was tough. The 2000 teens were difficult years with prices as they were then. The tariffs came in, dropped prices even more for us. In our family, we relied on credit card debt to get us through some of those years just to pay our our living expenses, because we were making little or no money on the farm in those times. So, yeah, it had a very significant impact on us.
A
Was your business able to rebound in any way from those tariffs between 2018, 2019, and the end of the Biden administration?
B
It wasn't related to the tariffs at that time, but we, you know, after Covid, there were some global weather issues, some serious droughts in the US And South America. We had less crops produced. So that did result in some considerable raises in the prices that we received for our corn, soybeans, and other grains. And that did help a lot. We were able to kind of catch up a little bit on all of the debts that we had accrued from the first round of tariffs, get back on our feet a little bit. But, you know, now we've had bountiful crops here and in South America, and now with the latest round of tariffs, it's making it very difficult, hard to find markets for our crops. We're able to sell them to the grain terminals, but we take, in most cases, considerably less than what it costs to produce them. And it isn't only the prices that we receive for the products like soybeans that we grow, but a huge part of it is the increase in our costs. Our fertilizer costs are up significantly for next year, so we're going to be paying more for our inputs and potentially getting considerably less for our products.
A
Yeah. Why are those costs going up?
B
Well, a lot of the fertilizer that we use here in the United States comes from other countries. Canada is a big supplier of our potash, I believe some of our phosphorus. We don't have a lot of mines for these kind of fertilizer commodities here in the US So a lot of it gets shipped in from abroad, and the tariffs are having a significant impact on that. So that is creating price squeezes. I said our inputs are going up and our. The price that we get for what we grow is going down. So it makes it very difficult.
A
How are you getting by right now?
B
Well, for me, Jane, you know, I'm getting close to retirement. We're fortunate enough to have paid down considerable amount of our debts over a lifetime of farming. And unfortunately, we're pulling money out of our retirement savings to make ends meet here lately, the last year or so, and that's difficult because we're in the years that we want to be putting more away so we can prepare for retirement. I'm questioning whether or not I might have to retire early just to stop the bleeding, so to speak. Before I do into all my retirement savings. So that's a real challenge for us. I think if I was 10 years younger, I would probably be in a situation of seriously considering stopping farming and having to find, you know, job off the farm. So. But where we are in our lives right now, we are limping into retirement, I guess you could say.
A
Yeah, I think that that gets to something I was thinking about, which is that, you know, there are farmers who are younger than you. There are so many people who still want to and obviously love farming in America. How are your fellow farmers who are younger doing and how do you think all of this affects the future of American farming?
B
Well, it's, it's difficult. It's, you know, this price squeeze is hard and every farm is, you know, a little bit different in how things are structured and what kind of, you know, debts and that they might have. But it's difficult for everyone. You know, I, I get together with a lot of the neighbors every week at bowling and we, you know, several of them are farmers and I get a chance to, to talk about things and you know, the mood is quite disheartening overall. A lot of, I hate to say depression, but you know, folks are not feeling good about where we are right now. Now as farmers, we don't like to complain. We're eternal optimists and we always think, you know, next year's gonna be better. But I think it's taking its toll. You know, there's a lot of farmers of all ages that are really struggling. You work all year and have nothing to show for it. I kind of like to share with my non farm friends. You know, imagine if you were working all year for your employer without a paycheck and then at the end of the year you're going to get your paycheck. That's kind of how it goes with farming. Well, at the end of the year for us, instead of getting our paycheck, we're owing our employer, you know, tens of thousands of dollars in some cases. So that's difficult to reconcile when you've worked all year and then you don't have enough left over at the end of the year. Pay your bills.
A
Yeah. And in this case your employer is the bills.
B
Basically that's the seed dealer and the fertilizer companies. Yeah, the suppliers where we buy our inputs to plant our crops. That's our boss, I guess you could say. We generally borrow money in the spring to plant our crops, put in all the inputs and there again with fertilizer prices. Now with the tariffs going higher at the end of the year. That's the struggle. We sell our crops generally, we can easily pay off our bills and then have what's left over to live off of. And when you can't even pay the bills off, that's, that's not a pleasant place to be.
A
I think a lot of people listening might be wondering, how can Americans support you and other farmers and how are you persisting? I know you said you were limping into retirement, but you're still doing the work every single day.
B
Oh, that's a great question. You know, as we move forward, we have to make some better choices with the policies that we choose. I don't know. There aren't any real easy answers, I'm afraid, Jane, on that. But we do appreciate support of the general public. That does mean a lot. But yeah, it's hard. And there's people all over that are small business owners and others that are struggling too. So it isn't just farmers. There's a lot of challenges out there right now, sadly.
A
Phil, thank you so much for taking the time to join me.
B
Oh, you're very welcome. Great to be with you.
A
That was my conversation with Phil Verges, a longtime farmer in western Wisconsin. We'll get to more of the news in a moment, but if you like the show, make sure to subscribe. Leave a five star review on Apple Podcasts, watch us on YouTube and share with your friends. Subscribe more to come after some ads what a day is Brought to you by Bombas Fall is here, kids are back in school, vacations are over, and cozy season is officially on. You know what that means. Bombas season is also on. Bombas makes the most comfortable socks and slippers, all crafted from top quality materials, perfect for this time of year. What to love about Bombas? How about absurdly comfortable materials like merino wool to keep you warm or cool Supima cotton that's soft and strong and classic ragwool for that cozy fall vibe. Bombas is also now known for their slippers and slides from Sherpa lined Sunday slippers for staying in to do it all Eva Friday slides on the go. Bomba's has it all. And the best part, every item you buy means one donated to someone experiencing homelessness. Over 150 million items so far. And with their happiness guarantee, if you're not 100% into what you've got, they'll make it right. No risk, all reward because they truly do make the best socks. Head over to bombas.comday and use code day for 20% off your first purchase. That's B O M b-s.com day code day at checkout.
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B
So leave it to the pros who.
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Will get your jobs done well. Hire high quality pros@angie.com here's what else we're following today. Header lines.
B
The controllers are wearing thin and again, they're taking second jobs.
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They're out there looking, can I drive Uber?
B
Can I find another source of income.
A
To make ends meet until Democrats stop.
B
With the radical push for illegal migrants and actually open up the government?
A
Speaking to Fox News, Maria BARTIROMA On Sunday, U.S. secretary of Transportation Sean Duffy blames Democrats for the government shutdown that continues to leave air traffic controllers without their paychecks. Flights to Los Angeles International Airport were briefly halted this weekend when the Federal Aviation Administration imposed a ground stop due to a critical shortage of air traffic controllers. Other major airports like Phoenix and Houston also saw delays, with the FAA warning that staffing problems could impact New York, Dallas and Philadelphia. With the government shutdown Approaching the one month mark, U.S. treasury Secretary Scott Besant stammered through questions Sunday with NBC's Kristen Welker on Meet the Press.
B
We're now in the second longest shutdown in U.S. history. When will President Trump meet with Democrats to try to bring this shutdown to a close and get federal workers their paychecks back again.
A
Mr. Secretary.
B
Well, Kristen, I'm going to have to reject the premise of your question. Why does President Trump have to meet with Democrats? Democrats just need to go into the Senate and vote to end the shutdown.
A
Sure, he can reject the premise, however petulant, but he cannot deny the fact that key federal health data is stalled as flu season approaches or that funding for the Supplemental Nutrition Assistance Program SNAP will run dry in less than a week. Without a deal, states may be unable to issue full benefits for November, threatening food security for roughly 42 million Americans. And in a cruel design to apply pressure to Democrats, the U.S. department of Agriculture threatened to withhold billions of dollars in contingency funding if the shutdown stretches into November. With flights grounded and SNAP about to snap, it feels like the only thing up and running is good old fashioned American blame. Connecticut Democratic Senator Chris Murphy reacted to the reveal of Trump's secret military payroll donor on CNN's State of the Nation.
B
Sunday is refusing to negotiate is because he likes the fact that the government is closed, because he thinks he can exercise king like powers. He, he can open up the parts of the government that he wants. He can pay the employees who are loyal to him. I mean, this is a leader who is trying to transition our government from a democracy to something much closer to a totalitarian state. And so this is part of what happens in totalitarian states. The leader, the regime, only decides what things get funded and what don't, often in coordination with their oligarch friends, anonymous.
A
Sources told the New York Times. Timothy Mellon, a reclusive billionaire, gave the Trump administration 130 million to pay members of the military as the government shutdown continues. Mellon is reportedly a financial backer of Trump. Experts warn that Trump's continued attempts to shift the power of the purse to the executive branch rather than Congress sets a dangerous precedent. President Trump told reporters about the donation Thursday and said the money came from one of his friends saying, quote, that's what I call a patriot and that's what I call probably illegal. And I'm not the only one. A spokesperson for the conservative think tank the American Enterprise Institute told the Guardian, there is really no good legal justification for moving the money around in this way. The Pentagon confirmed that they received $130 million on Friday, which is just a fraction of the roughly $8 billion the Trump administration took from the Pentagon's research and development budget in order to make military payroll. Earlier this month, former White House Office of Management and Budget official Bobby Kogan called the stunt, quote, super duper illegal. I mean, let's take for example, this $40 billion bailout for Argentina. That's probably one of the grossest things I've ever seen. And I have no idea who is telling our great president, our America first president, that this is a good idea because it's honestly, it's a punch in the gut to all of our American cattle ranchers, and they are furious, and rightfully so. Yes, why would those evil people tell our beautiful president such lies? In a conversation with Tucker Carlson, Georgia Republican Representative Marjorie Taylor Greene lamented Trump's plan to quadruple U.S. beef imports from Argentina, which she has decided wasn't Trump's plan at all. Trump claims bringing in beef from Argentina would reduce prices in the US While bailing out the bankrupt South American nation. The plan is stoking panic among ranchers and concern from Republican lawmakers. So what's their beef? Staunch Trump ally Iowa Republican Senator Chuck Grassley, not to be confused with Grass Fed, said this during his weekly call with agricultural reporters last week.
B
The message to the president is pretty simple. Undercutting American beef is not putting America first.
A
To be fair, Trump never specified which hemisphere of America he intended to put first. Federal inflation data released Friday indicates beef prices are up 15% over the past year because of a combination of environmental factors and tariffs imposed by Trump. The policy, seemingly made on the hoof, comes on the heels of Trump approving billions of dollars in aid for Argentina to bolster his ally, Argentinian President Xavier Milei, as he faces elections while presiding over an economic crisis. Needless to say, US Beef producers and their allies in Congress are pushing the administration to take a different approach to support the beef industry. The only group strongly in support of the deal, my guess, would be American Cows.
B
If this was happening with this level.
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Of insight under the Biden administration, I'd be apoplectic. Yeah, let's think about the president, and.
B
I would say, hey, listen, I serve.
A
On the Intelligence Committee.
B
He serves as a senior Democrat on defense. This is typical consultation. It's not permission, but it is, hey, I want to let you know this is happening and here are the details of what's happening and here's why and what. And here's what we know. Here's what we know about each one.
A
Of these incidents that has occurred in the people that are there. That's important.
B
We're all elected officials. We're in a co equal branch of government, and we've got to be able to have that kind of coordination.
A
Oklahoma Republican Senator James Lankford shockingly agreed with his fellow guest, Delaware Democratic Sen. Chris Coons on C Span cease fire Friday, saying that the Trump administration should consult Congress about its ongoing military strikes on alleged drug smuggling votes. Meanwhile, President Trump told reporters Thursday that he has no plans to ask Congress for its approval as he continues to carry out strikes in the region.
B
Well, I don't think we're going to necessarily ask for a declaration of war. I think we're just going to kill.
A
People that are bringing drugs into our country. Okay.
B
We're going to kill them. You know, they're going to be like, dead. Okay.
A
You know, like a normal democracy. So far, the Trump administration has confirmed 10 fatal strikes in alleged drug boats, mostly targeted in the Caribbean Sea until last week, when the US Military carried out two strikes in the eastern Pacific Ocean. And on Friday, the Pentagon announced it sent its most advanced aircraft carrier to the waters of South America, another escalation in the not yet official war that Trump keeps calling a war. On CBS's Face the Nation Sunday, South Carolina Republican Senator Lindsey Graham was asked if that deployment means land strikes are planned.
B
Yeah, I think that's a real possibility. I think President Trump's made a decision.
A
That Maduro, the, the leader of Venezuela.
B
Is an indicted drug drug trafficker, that.
A
It'S time for him to go, that.
B
Venezuela and Colombia have been safe havens for narco terrorists for too long. And President Trump told me yesterday that he plans to brief members of Congress when he gets back from Asia about future potential military operations against Venezuela and Colombia and Colombia.
A
Let's try to handle one undeclared war at a time. According to the New York Times, the Senate will have a chance to vote on a bipartisan war powers resolution that would require congressional approval for military actions within or against Venezuela. A previous resolution to stop the Trump administration from carrying out boat strikes in the Caribbean Sea without congressional authorization failed earlier this month. And that's the news. Before we go. Crooked Con is just over two weeks away. As you may have heard, there are a ton of new speakers added to the Nov. 7 lineup. Adam Mokler, Tim Miller, Pramila Jayapal, Jen Psaki, Simone Sanders Townsend. But we are finally announcing the schedule. I'll be hosting a panel on policy priorities for a progressive future with three prominent policy Democratic strategist Waleed Shahid, Nir Tanden of the center for American Progress and writer Matthew Iglesias of Slow, Boring Vote Save America will also have an action hub that will come with its own set of programming. Stay tuned for more details on that. Make sure to take a look at the full schedule and be sure to grab tickets. If you haven't@crookedcom.com There aren't many left. That's all for today. If you like the show, make sure you subscribe, leave a review. Feel not very bad for Prince Andrew, who's now just Prince Andrew. And tell your friends to listen. And if you're into reading, I'm not just about how Prince Andrew has voluntarily stopped using all of the his titles and honors like the Duke of York and His Royal Highness after a quote, discussion with King Charles III after his many, many ties to convicted sex offender Jeffrey Epstein were revealed. Like me, what a Day is also a nightly newsletter. Check it out and subscribe@cricket.com subscribe I'm Jane Coston and the last time a Duke lost his title was in 1919 after the Duke of Albany fought on the German side during the first First World War. I wonder what his emails would have been like. What a Day is a production of Crooked Media. It's recorded and mixed by Desmond Taylor. Our associate producers are Emily Foer and Chris Allport. Our video editor is Joseph Dutra. Our video producer is Johanna Case. We had production help today from Greg Walters, Matt Berg, Sean Ali, Gina Pollack and Caitlin Plummer. Our senior producer is Erica Morrison and our senior vice president of news and politics is Adrienne Hill. We get help today from the Associated Press. Our theme music is by Colin Gilliard and Kashaka. Our production staff is proudly unionized with the Writers Guild of America east what are you doing in a meeting? That could have been an email. Losing interest? Don't let it happen to your money too. Vanguard's CashPlus account can't help you at work, but we can help with your savings. Find out how much interest you could earn@vanguard.com cashplus offered by Vanguard Marketing Corporation member Finra and SIPC. Hi, I'm Angie Hicks, co founder of Angie.
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Be done well, from roof repair to emergency plumbing and more done well. So the next time you have a home project, leave it to the pros. Get started@angie.com.
Episode Title: The Reality of Being An American Farmer Right Now
Host: Jane Coaston (Crooked Media)
Date: October 27, 2025
This episode explores the mounting pressures facing American farmers, especially soybean and corn producers, amid renewed tariffs and trade wars under President Trump. Jane Coaston sits down with Wisconsin farmer Phil Verges for an honest, ground-level perspective on how federal policy and global economics play out on U.S. farmland. The episode also touches on government shutdown consequences, new debates over beef imports, and escalating military tensions abroad, but its heart is in the raw realities of farming in America today.
Segment: [00:02–03:36]
Notable Moment:
This episode delivers a rare, nuanced look at the lives of American farmers negotiating not just markets and weather, but the shifting realities of trade wars, political grandstanding, and global economic currents. Through Phil Verges’ voice, listeners experience the grit, exhaustion, and thin margins that define modern American agriculture—and are reminded that policy debates have deeply personal consequences far from Capitol Hill.