A new study from North Dakota State University says tariffs and retaliatory trade actions are continuing to cost American agriculture billions of dollars while also increasing expenses for farmers.
Researchers found retaliatory tariffs from China have resulted in an estimated 15 billion dollars in annualized losses for U.S. agricultural exports. Nearly half of that impact comes from China’s restrictions on American soybeans, which the study says account for about 6-point-8 billion dollars in losses alone.
The report also showed major impacts to beef, poultry and cotton exports as trade disputes continue to reshape global markets.
In addition to export losses, researchers say tariffs on imported agricultural products and farm inputs have significantly increased costs for producers. The study specifically highlighted tariffs enacted under the International Emergency Economic Powers Act as contributing to higher prices for supplies and equipment used by farmers.
Trade Monitor analysis included in the report found imports from countries facing tariffs, including Brazil and India, have dropped sharply. At the same time, the U.S. has become more reliant on imports from geopolitically unstable markets like Russia.
Researchers warned those changes could create long-term supply chain vulnerabilities for American agriculture and add more uncertainty for producers already facing tight margins and volatile commodity markets.