Tariffs, March 4
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Here we go again.
Impact on agriculture.
“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,” Trump posted on Truth Social. “Tariffs will go on external product on April 2nd. Have fun!”
Tariffs on foreign goods imported into the United States can hit farmers in several ways. Trump’s recent tariffs on Chinese goods will make herbicide imported to keep Iowa fields weed-free more expensive, The Washington Post said.
More than 80% of the United States’ supply of a key fertilizer ingredient — potash — comes from Canada, American Farm Bureau President Zippy Duvall noted in a statement last month as he expressed alarm about potential harm to farmers.
Tariffs on steel and aluminum could boost the cost of tractors and other farm machinery. And retaliatory measures by other nations could make it harder for American farmers to sell their goods abroad.
“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,” Duvall said. “More than 20% of U.S. farm income comes from exports.”
Three markets dominate that export trade. Last year U.S. farmers exported more than $30 billion in agricultural products to Mexico, $29 billion to Canada and $26 billion to China, Duvall said. That accounted for nearly half of all exports by value combined.
Suzanne Shirbroun, whose family has worked the same land in Iowa since 1874, told The Post she needs more potential buyers than just those in the United States.
“I’m going to have a lot of soybeans and corn that I need to move,” Shirbroun said. “Our goal is to make Iowa and U.S. soybean farms profitable. And to do that, we need these international markets. We need to keep growing demand.”
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Ontario to cut off electricity to the US:
https://www.theglobeandmail.com/canada/article-doug-ford-ontario-response-trump-tariffs/
Nickel exports to be cut off as well.
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Anyone have any thoughts as to whether our personal savings and investments can be hedged to avert disaster? If we lose our SS, our savings need to be secure so we have something to live on. Wondering if offshore accounts and investments make any sense...
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@Bernard said in Tariffs, March 4:
And stocks tumbled today.
And more today.
https://www.cnbc.com/2025/03/03/stock-market-today-live-updates.html
