tariffs

The Farm Belt will get walloped if China retaliates in equal measure against Washington's $50 billion in announced tariffs on Chinese goods, said economists at Midwestern universities. Ohio State researchers said farmers in the Buckeye State could see a 50 percent drop in farm income while Iowa State's Chad Hart said producers in the Hawkeye State could lose up to $624 million this year, depending on how long the tariffs are in place and if other customers are found.

Mexico, the top importer of U.S. pork, announced retaliatory 10-percent tariffs on Tuesday, rising to 20 percent in a month's time, that would effectively shut the door to the American meat. One of every five pounds of pork produced in the U.S. is sold to a foreign buyer.

One-third of U.S. agricultural trade flows through Canada and Mexico, and both nations quickly vowed tit-for-tat tariffs on U.S. food and ag products after President Trump announced duties on steel and aluminum from the North American neighbors on Thursday.

The Senate could vote on the $87 billion-a-year farm bill in mid-June, but the legislation won’t repeat the House’s attempt at major SNAP reform, said Agriculture Committee chairman Pat Roberts on Wednesday.

The farm bill was the missing topic during a 45-minute session recently with farmers in southwestern Missouri, recalls Sen. Roy Blunt. "The farm bill never came up." Instead, growers talked about threats to farm exports, over-regulation and the need for rural broadband. Agriculture Secretary Sonny Perdue says low commodity prices, the slump in farm income, attacks on corn ethanol and, most of all, anxiety about a possible trade war are the top concerns in farm country. <strong>No paywall</strong>

President Trump is a maverick when it comes to international relations, said Agriculture Secretary Sonny Perdue on Wednesday while assuring farm-state senators that successful negotiations would resolve the threat of a trade war.

President Trump says his administration will "make it up" if farmers and ranchers are hurt by Chinese trade retaliation. Two agricultural leaders in Congress were skeptical of possible politically driven bail-outs on Tuesday, with Senate Agriculture chairman Pat Roberts saying, "We don't want another subsidy program. We need to sell our product."

At the same time he threatened an additional $100 billion in tariffs on China, President Trump said on Thursday that the government will use its broad powers to protect U.S. farmers and agricultural interests from “China’s unfair retaliation.”

President Trump sent a message to U.S. farmers in a phone call with Agriculture Secretary Sonny Perdue: “We’re not going to allow them to be casualties if this trade dispute escalates. We’re going to take care of our American farmers.”

Three years after gaining full access to Chinese consumers, U.S. apple growers may be hit with a 15 percent tariff in a rapidly growing market. Beijing listed agricultural products, including fresh fruit, pork and wine, as potential targets for retaliation because of Trump administration tariffs on imported steel and aluminum, putting U.S. producers on edge about the possible loss of valuable markets.

Farmers are worried about foreign retaliation to U.S. trade sanctions, said the chairman of the Senate Agriculture Committee, suggesting that Congress may have to create a “special payment due to retaliation.”