By Jamie Martin
As new import tariffs take effect, farmers across the country are preparing for financial pressure. The plan includes a flat 10% tariff on all imported goods starting April 5 and additional tariffs of up to 34% on countries like China beginning April 9.
While the goal is to boost the domestic economy, farm leaders warn of rising supply costs and decreased international demand for U.S. agricultural products. These changes could lead to lasting damage, especially for small and medium-sized farms.
The USDA has responded, suggesting that financial aid could be made available to ease the impact. During a recent Iowa visit, the USDA indicated plans to help farmers manage the economic challenges caused by these trade policies.
In 2018, retaliatory tariffs resulted in over $27 billion in lost agricultural exports. The government responded by offering support through the Commodity Credit Corporation, but the process was slow and difficult for many farmers to access. Those delays could reappear if aid is not issued quickly.
China, the largest importer of U.S. soybeans, has already responded with a 34% tariff. This presents a serious threat, as over half of America’s soybeans are exported, mainly to China. The global agriculture model relies heavily on trade, especially for crops like soybeans used in animal feed.
Farmers have also been affected by recent policy changes and funding reductions in key agricultural programs, adding to their burdens. The number of U.S. farms has already decreased by over 100,000 between 2019 and 2023.
“One thing is certain: American family farmers and ranchers will bear the brunt of this global trade war,” said National Farmers Union President Rob Larew.
While no official relief plan has been released, the USDA’s statements offer hope that help is on the way.
Photo Credit: usda
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