Posted by 27 July 2018
President Donald Trump has been vocal in his desire to upend U.S. trading policy. He has imposed or threatened a variety of tariffs, and other nations have retaliated. Now Iowa farmers are caught in the middle of this trade war, something that concerns them as well as their representatives in Congress.
Earlier this year, President Trump imposed tariffs on some goods coming in from Mexico, Canada, the EU, and China. In response, these countries imposed tariffs on U.S. products, some of them agricultural. This has caused prices to drop for corn, pork, and other farm-sector products to drop. That is hitting some Iowa farmers hard.
These farmers are struggling with lower prices for this year’s crop while at the same time facing decisions about what to do next year. Given the uncertainty over trade policy and the willingness of the president to continue exploring further tariffs, many farmers are unsure about their economic future. This has prompted some farm state members of Congress, such as Iowa’s Senators Chuck Grassley and Joni Ernst, to encourage the White House to consider how this trade war is affecting farmers.
Even in light of this disruption to the farm economy, however, many of these members of Congress are wary about supporting legislation that would scale back the president’s tariff powers. They are taking an attitude of waiting to see if these trade issues can be resolves soon so that U.S. farmers can once again enjoy greater access to international markets.
Do you think that farmers are right to be concerned that trade disputes could hurt their ability to stay in business?