NICK GOSNELL
Hutch Post
HUTCHINSON, Kan. — Ernie Goss, an economist with Creighton University, notes that despite a bit better news regarding inputs for farmers and Rural Main Street, it's still a rough business to be in as we get ready to wrap up 2024.
"Most of us could not live with the volatility that the farmer is faced with," Goss said. "You can't have this this volatility and stay in business very long and have a positive outlook. You just go do something else."
President elect Donald Trump has said he will impose tariffs right away when he gets into office. Goss hopes that is just posturing.
"I hope, upon hope, he's not, he's not going to follow through with across the board tariff increases, that would be very bad for the overall U.S. economy," Goss said. "For that matter, we would just have retaliation. I'm sure none of your listeners were around when Smoot-Hawley was passed. We had a depression right after that."
The hope is that trade policy doesn't drag on the rural economy any more than it already is.
"Hopefully we don't get into a tit for tat there, but that's not good," Goss said. "A trade war, even trade skirmishes are not good for agriculture and manufacturing as well."
The direct impact of tariffs, if they are implemented, remains to be seen, but Mexico is already saying they plan to retaliate, if Trump imposes what he says he will.