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Shining Light on Farm & Food Policy for 20 Years.
Wednesday, July 17, 2024
As U.S. leaders pledge to increase tariff rates on Chinese products and the Asian giant plans to retaliate, more farmers are asking: “How do tariffs really work?”
The Trump administration dispatched two of its top trade officials to meet with farm groups last week and the message was straightforward: The trade war that has generated tens of billions of dollars in tariffs on U.S. farm commodities isn’t likely to be over soon, and the ag sector needs to prepare for a lot more pain.
As the world’s two largest economic powerhouses entered a formal trade war last week, the United States stood alone in its dispute with China, lacking the support of our traditional allies.
President Donald Trump announced today the U.S. is hitting Canada, Mexico and the European Union with steel and aluminum tariffs, putting the fate of the North American Free Trade Agreement into further uncertainty and exposing U.S. farmers and ranchers to retaliation.
Recently there's been a spike in news media attention to farmer suicides brought on by depressed farm-product prices, but there appears to be a lack of solid data to compare the current incidence of suicide on the farm to that of the mid-1980s farm crisis.
