Sen. Mike Rounds (R-S.D.). Photo: Axios

Sen. Mike Rounds (R-S.D.) told Axios' Mike Allen on Thursday that President Trump's trade war with China has caused the price of his state's soybeans to plummet 20%, costing South Dakota half a billion dollars.

Why it matters: Data show America's farmers have gone through significant economic pain as a result of the ongoing U.S.-China trade war. Republican lawmaker who represent rural parts of the nation have been divided in whether to continue supporting the Trump administration's efforts, even as they take a toll on their constituents.

  • Rounds told Allen at an Axios News Shapers event that the people of South Dakota want and believe the president can beat China and get a fair trade deal done. But, he added, the farmers have an end to the rope and they're getting close to it.
  • Arkansas Sen. Tom Cotton has previously said that the pain farmers are feeling from the retaliatory tariffs is a "pretty minimal" sacrifice compared to the sacrifices of U.S. soldiers serving overseas.

Go deeper: America's farmers are living through the worst economic crisis in 30 years

Go deeper

Pundits react to a chaotic debate: “What a dark event we just witnessed”

The first presidential debate between President Trump and Joe Biden in Cleveland on Tuesday night was a shouting match, punctuated by interruptions and hallmarked by name-calling.

Why it matters: If Trump aimed to make the debate as chaotic as possible with a torrent of disruptions, he succeeded. Pundits struggled to make sense of what they saw, and it's tough to imagine that the American people were able to either.

Trump to far-right Proud Boys: "Stand back and stand by"

Asked to condemn white supremacist violence at the first presidential debate on Tuesday, President Trump said the far-right Proud Boys group should "stand back and stand by," before immediately arguing that violence in the U.S. "is not a right-wing problem. This is a left-wing problem."

Why it matters: Trump has repeatedly been accused of failing to condemn white nationalism and right-wing violence, despite the FBI's assessment that it's the most significant domestic terrorism threat that the country faces. The president has frequently associated antifa and the left-wing violence that has afflicted some U.S. cities with Biden, despite his condemnation of violent protests.

Mike Allen, author of AM
58 mins ago - Politics & Policy

The first Trump v. Biden presidential debate was a hot mess

Photos: Jim Watson and Saul Loeb/AFP via Getty Images

This debate was like the country: Everybody’s talking. Nobody’s listening. Nothing is learned. It’s a mess.

  • We were told President Trump would be savage. Turned out, that was a gross understatement. Even the moderator, Fox News' Chris Wallace, got bulldozed.

Why it matters: Honestly, who the hell knows?