Trump tariffs threaten Iowa's agricultural industry

Zoom in: Per the latest data from the U.S. Department of Agriculture, Iowa's top exports are soybeans ($3.6 billion in 2023) and pork ($2.8 billion in 2023).

Flashback: In the wake of the 2018-19 Trump tariffs, the administration offered a $28 billion farm bailout to make up for losses as China shifted its purchases to Latin America.

• Farmers say they had only recently rebuilt those market relationships.

What they're saying: "Increased tariffs threaten the economic sustainability of farmers who have lost money on most major crops for the past three years," said Zippy Duvall, president of American Farm Bureau Federation, in a statement Wednesday.

• Corteva Agriscience, in Johnston, was the latest to announce layoffs, with plans to let go of 44 workers amid the downturn in agriculture, the Register reports.
• Economists expect tariffs to boost the cost of fresh produce by 4% and overall food by 2.8%.

The other side: U.S. Secretary of Agriculture Brooke Rollins told Iowa's ag leaders that the U.S. Department of Agriculture is prepared to support farmers while tariffs go into place, though details have not been shared yet.