Farm Bureau: Trump’s Tariffs ‘Will Impact America’s Farmers’

Following news of President Trump’s Executive Order that imposes 25-percent tariffs on Mexico and Canada, as well as additional 10-percent tariffs on Chinese imports, ag leaders from across the U.S. are expressing their concerns that Trump’s decision may ultimately harm America’s farmers and the U.S. ag economy.

On Sunday, Zippy Duvall, President of American Farm Bureau Federation (AFBF), issued the following statement:

“Farm Bureau members support the goals of security and ensuring fair trade with our North American neighbors and China, but, unfortunately, we know from experience that farmers and rural communities will bear the brunt of retaliation. Harmful effects of retaliation to farmers ripple through the rest of the rural economy.

“In addition, over 80% of the United States’ supply of a key fertilizer ingredient — potash — comes from Canada. Tariffs that increase fertilizer prices threaten to deliver another blow to the finances of farm families already grappling with inflation and high supply costs.

“Farm and ranch families answer the call to feed America’s families and the world, and these tariffs and the promised retaliation will put further stress on their livelihoods. More than 20% of U.S. farm income comes from exports, which are dominated by these three markets. Just last year the U.S. exported over $30 billion in agricultural products to Mexico, $29 billion to Canada and $26 billion to China – our top three markets and nearly half of all exports by value combined.

“The uncertainty hits just as operating loans are being secured and spring planting approaches, leaving farmers in a tough spot. We look forward to working with President Trump to position our farmers for success while also ensuring American strength and leadership on the international stage.”

CLICK HERE to read the full text of President Trump’s Executive Order.

Source: American Farm Bureau Federation