Tariffs
Tariffs, also known as taxes on imported goods, are a tool used by President Donald Trump as part of his overall economic vision. As U.S. agriculture navigates tariffs and their implications on trade, commodity prices, input costs and more, ag economists and farmers remain divided on the effectiveness of tariffs and what the changes mean for the broader economy and livelihoods.
Steve Censky, chief executive officer of the American Soybean Association, says unless China buys soybeans soon, they may be looking at aid similar to the Market Facilitation Program used back in 2018-19 during the last trade war.
The Chinese government is continuing to instruct importers to avoid purchasing U.S. soybeans. Until that changes, soybean prices are likely to remain low.
There are only two months left for Mexico to deliver almost a million acre-feet of water. While it might deliver some, the impacts on Texas growers are going to be tough.
President Trump is urging China to buy more U.S. soybeans as they face a shortage, but analysts say quadrupling soybean orders is ‘highly unlikely.’
NCGA’s Krista Swanson says it would take about 226 bu. of corn to buy a ton of ammonium phosphate, which is up from the 180 bu. it took at the beginning of this year. As fertilizer costs are on the rise, corn prices are now at or below $4, and it’s creating a grim outlook for 2026.
President Donald Trump said on Monday most trading partners that do not negotiate separate trade deals would soon face tariffs of 15% to 20% on their exports to the U.S.
On Saturday, President Trump threatened to impose 30% tariffs on Mexico and the European Union starting on August 1. The announcement came after a string of new tariff threats last week.
On Monday, 14 countries received letters indicating tariff increases of 25% to 40%, including Japan and South Korea. Meanwhile, President Trump extended the implementation date for those tariffs to Aug. 1
The deal, according to President Trump, allows the U.S. “total access” to Vietnam’s markets with a zero tariff on U.S. products exported to Vietnam.
Josh Linville, vice president of Fertilizer for StoneX Financial Inc., says the current fertilizer and corn price ratio is at historic levels with potash the worst in history, UAN the second worst in history, and urea ranking as the third worst.
“China and Brazil are getting together. They’re going to build infrastructure, and they’re going to make SAF and they’re going to build railroads, and it’s not good for us and our future. That’s why we need new markets,” says Iowa farmer Tim Burrack.
The market might not be as hot as it was two years ago, but it still sizzles. The economics of low supply and strong demand are keeping prices fairly stable with only slight reductions seen this spring, depending on the location and quality, says Colton Lacina, Farmers National Company.
While 56% of farmers say they believe the ongoing trade disputes with China and other countries will hurt them financially this year, 70% say they believe the U.S. and agriculture specifically will benefit in the long-term.
A pair of Canadians in farming weigh in on the country’s latest election results and the implications for agriculture sectors like the dairy industry and farm equipment manufacturing.
The move could improve the outlook for beef exports to China, which has upped its spending on Australian beef during the past two months.
Before the White House’s 90-day pause on higher tariffs for other countries expires on July 9, India is one country rushing to negotiate a trade deal with the U.S.
A new report from Bloomberg Law shows family farm bankruptcies had already increased by 55% last year compared to 2023, and to start 2025, the number of bankruptcies is already exceeding the same time last year.
Growers are grappling with a second consecutive year of waning demand and no home for their grapes. The issue is complex with non-tariff trade barriers hitting the wine industry especially hard and a flood of imports that are creating cheap wine with which U.S. grape growers can’t compete.
On her list of issues to tackle, says Secretary of Agriculture Brooke Rollins, is deciding if farmers will need another round of assistance payments later this year and if USDA headquarters should be relocated.
The tit-for-tat on tariffs between the U.S. and China continues, with China announcing on Friday a new rate of 125%, which is up from the 84% announced earlier this week. That pushes the tariff on U.S. pork and pork variety meat to 172%. The new soybean tariff is more than 150%.
Daren Coppock says: “Global supply chains cannot adjust overnight nor can they function in a tariff environment that is unpredictable.”
“The sourcing from international markets has become mandatory. It’s more likely that things will get expensive than change,” says Jim DiLisi of Fanwood Chemical.
As the trade war heats up, the reality is China is still the top export destination for U.S. farmers, even if the country isn’t buying as many soybeans as 2018.
After China retaliated with its own tariffs, the U.S. said on Tuesday that 104% duties on imports from China would take effect shortly after midnight, even as the Trump administration moved to quickly start talks with other trading partners targeted by Trump’s sweeping tariff plan.
As tariff proposals continue to bring uncertainty, the agricultural sector is assessing how any forthcoming country-by-country trade deals might offset the disruption, or if the industry needs to brace itself for a different kind of future.
The senior senator from Iowa is renewing a long-standing legislative effort to wrestle back authority on trade deals and tariffs from the executive branch.
Cheap cotton prices and dwindling demand are just part of the problem. Input costs have climbed and there’s no safety net to be found from a new farm bill. One Georgia farmer says the current farm bill is irrelevant and worthless, and if a new one doesn’t get passed this year, the cotton industry is doomed.
China accounted for 14% of total U.S. beef export volume last year and 15% of export value as well as 15% of total U.S. pork export volume and 13% of export value, according to the U.S. Meat Export Federation.
Farmers and farm groups have mixed reactions and lingering questions following President Trump’s announcement of sweeping reciprocal tariffs. Will farmers receive aid to offset tariff impact? How will U.S. trading partners react?
On Wednesday afternoon, President Trump announced a series of tariffs, scheduled to start over the next few days, on some of agriculture’s most significant trade partners. Some corn and soybean growers say they are bracing themselves for potentially more financial pain ahead.