Trump to put tariffs on agricultural imports, tells farmers to ‘have fun’

Mar 3

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Karah Rucker Anchor

By Karah Rucker (Anchor), Jodie Hawkins (Senior Producer)

President Donald Trump said the U.S. would impose tariffs on “external” agricultural products starting April 2. It’s his latest threat to impose trade barriers on imported goods.
The president also announced Monday that 25% tariffs on products from Canada and Mexico will begin Tuesday.
An additional 10% levy on China will also be imposed.

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With tariffs against major U.S. trade partners set to take effect, President Donald Trump is now imposing tariffs on international agricultural products. The president posted the announcement to Truth Social Monday, March 3.

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“To the great farmers of the United States: get ready to start making a lot of agricultural product to be sold inside of the United States. Tariffs will go on external products on April 2nd. Have fun!”

What will be impacted?

The president did not provide details on which products would be affected or if there would be any exceptions. However, data from the U.S. Department of Agriculture (USDA) shows that relevant tariffs would hit fruits, vegetables and nuts, which typically account for at least half of crop shipments into the country.

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What are farmers saying?

Support for agricultural tariffs is mixed, with some farmers supporting it as a strategy to push for fairer trade deals and to protect American industries.

Meanwhile, many others are concerned about the negative impacts on their businesses.

During Trump’s first term in 2018, he directed then-U.S. Secretary of Agriculture Sonny Perdue to put together a short-term relief strategy aimed at protecting agricultural producers while working on free, fair and reciprocal trade deals to help American farmers compete globally.

A study from Iowa State University in 2019 found that farmers generally viewed Trump’s trade disruption as a short-term-pain, long-term-gain phenomenon with around 54% saying they were more optimistic about future growth.

Which other tariffs are set to take effect?

The president’s latest announcement on agriculture tariffs comes as the U.S. plans to impose 25% tariffs on Canada and Mexico starting Tuesday, March 4, scrapping hopes of a last-minute deal that would avoid starting a trade war.

Chinese imports are also expected to get hit with another 10% tariff at midnight, following a 10% levy on Chinese imports earlier this year.

Tags: Agriculture, Canada, China, Donald Trump, farm, Farming, Mexico, Tariff, Tariffs, Truth Social, U.S. Department of Agriculture

[Karah]

AS TARIFFS AGAINST MAJOR U-S TRADE PARTNERS SET TO TAKE EFFECT – PRESIDENT TRUMP IS NOW ANNOUNCING HE’S IMPOSING TARIFFS ON INTERNATIONAL AGRICULTURAL PRODUCTS.

THE PRESIDENT POSTED TO TRUTH SOCIAL MONDAY …

“TO THE GREAT FARMERS OF THE UNITED STATES: GET READY TO START MAKING A LOT OF AGRICULTURAL PRODUCT TO BE SOLD INSIDE OF THE UNITED STATES. TARIFFS WILL GO ON EXTERNAL PRODUCT ON APRIL 2ND. HAVE FUN!”

THE PRESIDENT DID NOT PROVIDE MORE DETAIL ON WHICH PRODUCTS WOULD BE AFFECTED OR IF THERE WOULD BE ANY EXCEPTIONS, BUT USDA DATA SHOWS TARIFFS ON AGRICULTURE IMPORTS WOULD HIT THE MARKET FOR FRUIT, VEGETABLES AND NUTS – TYPICALLY ACCOUNTING FOR AT LEAST HALF OF INBOUND CROP SHIPMENTS INTO THE COUNTRY.

SUPPORT FOR AGRICULTURAL TARIFFS IS MIXED, WITH SOME FARMERS SUPPORTING IT AS A STRATEGY TO PUSH FOR FAIRER TRADE DEALS AND TO PROTECT AMERICAN INDUSTRIES.

BUT, MANY OTHERS ARE CONCERNED ABOUT THE NEGATIVE IMPACTS ON THEIR BUSINESSES.

DURING TRUMP’S FIRST TERM IN 20-18 HE DIRECTED THEN U-S SECRETARY OF AGRICULTURE SONNY PERDUE TO PUT TOGETHER A SHORT-TERM RELIEF STRATEGY TO PROTECT AGRICULTURAL PRODUCERS, WHILE WORKING ON FREE, FAIR AND RECIPROCAL TRADE DEALS TO HELP AMERICAN FARMERS COMPETE GLOBALLY.

A STUDY FROM IOWA STATE UNIVERSITY IN 20-19 FOUND THAT FARMERS GENERALLY VIEWED TRUMP’S TRADE DISRUPTION AS A SHORTER-TERM-PAIN … LONG-TERM-GAIN PHENOMENON WITH AROUND 54 PERCENT SAYING THEY WERE MORE OPTIMISTIC ABOUT FUTURE GROWTH.

THE PRESIDENT’S LATEST ANNOUNCEMENT ON AGRICULTURE TARIFFS COMES AS THE U-S PLANS TO IMPOSE 25 PERCENT TARIFFS ON CANADA AND MEXICO STARTING TUESDAY, SCRAPPING HOPES OF A LAST-MINUTE DEAL THAT WOULD AVOID STARTING A TRADE WAR.

CHINESE IMPORTS ARE ALSO EXPECTED TO GET HIT WITH ANOTHER 10 PERCENT TARIFF AT MIDNIGHT AFTER THE PRESIDENT ALREADY IMPOSED A 10 PERCENT LEVY ON CHINESE IMPORTS EARLIER THIS YEAR.

FOR SAN, I’M KARAH RUCKER.

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