President-elect Donald Trump’s transition team has announced that it has struck a deal with Bayer AG, committing the German agricultural input company to investing $8 billion towards research and development should the company be permitted to acquire competitor Monsanto Co.
In response to the announcement, National Farmers Union (NFU) President Roger Johnson released the following statement:
“Today’s announcement that President-elect Trump’s transition team has struck a deal with Bayer and Monsanto is deeply disturbing if it leads to an approval of the Bayer-Monsanto acquisition by the incoming Trump Administration.
“Family farmers and rural communities came out in droves to support President-elect Trump and his campaign messaging of fighting the power structure, putting a stop to corporate mega mergers, and standing up for the little guy.
“The touted benefits of these deals pale in comparison to the adverse effects family farmers and ranchers will face with continued mergers in the agriculture sector. Corporate consolidation in agriculture leads to less competition and choice in the marketplace and higher input costs for family farmers and ranchers.
“We strongly urge the President-elect reject the notion that corporate consolidation benefits family farmers and rural America by putting an end to the endless string of mergers in agriculture.”