Of course there were more "absolute" farm bankruptcies under Obama's tenure — you forget that his term began in January 2009, before the full effects of Bush's housing collapse were felt throughout the worldwide economy — but that Obama turned that trend around by 2011, which is what the graph I linked illustrates. That wasn't the point, as I wrote; the number of American farms is way, way down from our days when we actually did put agriculture higher on the scale of important industries (I specifically said the number of American farms had declined to about 2 million in 2019 from a peak of 6.8 million in 1935). The moment Trump took office and began undoing everything Obama did, he turned those upward trending farming numbers around and veered wildly into the wrong direction with bankruptcies skyrocketing due to Trump's stupid trade wars, specifically with China.
The first point you make, however, is the tell. American farming is tied inexorably with trade. Obama understood this, and went to China in his first year in office (widely panned, of course, because doing the hard work is, well... hard). Remember how Hillary was blasted by republican punditry for her pivot to Asia and away from the Middle East? Why do you think Obama's State Department pivoted? China is poised to take become the biggest economy in the world, taking that title from the US. China is going to be, if not already, our most important export market for agriculture. Trump took a wrecking ball to what was a relative strength. He sacrificed the one area that the US had some influence [italic]in China[/itali] to the market for everything else; it was more important for Trump that Ivanka was able to secure trademarks and cheap shoe and clothing manufacturing than it was for our entire agriculture industry to succeed in the Chinese market. But then again, Trump was never a farmer; he is, however, a huge importer of cheap crap he sells to the rubes. Ironically, even his MAGA hats are made in China.
And then Trump turns around and begs President Xi to help him get re-elected. Of course Xi wants Trump re-elected; scholars of Chinese-American relations plainly state that a weakened US is easier to dominate, and Trump has done nothing but weaken our interests around the world, nowhere more obvious than China. To wit, when we're down and suffering due to Coronavirus, Trump begs China to buy our agricultural goods; China sees that as an opportunity to buy while prices are depressed [italic]and[/italic] a way to hurt Americans domestically, so they place huge orders for pork products knowing that meat packing plants are the most efficient breeding grounds for viral outbreaks (remember, China has a lot more experience dealing with viruses than we do, and they know exactly where the problems will occur).
Then they tell Trump that these purchases are critically important, so he issues an executive order to kill American meat plant workers... err, I mean, orders meat packing plants to stay open during the worst viral outbreak we've ever seen in this country. Thousands, possible tens of thousands of people acquired Covid-19 directly linked to meat packing plants; hundreds, possibly thousands, will die as a result. And here's the pointed question that Xi considered in this trade: the American military does not draw cannon fodder from college campuses and high society, but from small town rural America where there is dwindling opportunity. What better way to put America on a path to a weakened military, on top of a weakened agricultural industry, than kill two birds with one store: its source of recruits?
Xi played Trump like a cheap radio.