April 16, 2025
www.gfb.org
Vol. 7 No. 8
AFBF: TARIFFS HIT FARMERS’ AND RANCHERS’ IMPORTS AND EXPORTS According to an AFBF Market Intel report published April 4, U.S. farmers and ranchers could be hit both as producers and as consumers under a slate of tariffs announced by President Donald Trump on April 2. He has since announced a 90-day “pause” on reciprocal tariffs, a move applauded by AFBF, though the pause does not apply to goods imported from China. “Farm Bureau appreciates President Trump’s decision to pause the reciprocal tariffs on dozens of America’s trading partners for 90 days. We have been engaging directly with the White House, U.S. Trade Representative and U.S. Department of Agriculture to emphasize the toll tariffs will take on America’s farmers and ranchers, who are already strapped because of high supply costs and shrinking paychecks. Creating more market challenges puts at risk more than 20% of U.S. farm income. We’re encouraged that those concerns are being heard,” said AFBF President Zippy Duvall. “While the pause brings some temporary certainty, questions remain about the long-term competitiveness for farmers in the global marketplace. We encourage the administration to swiftly resolve trade disputes and to pursue strategies that will ensure America’s farmers can continue to stock the pantries of families here at home, and abroad.” To read the entire Market Intel report, visit https://www.fb.org/market-intel/understanding-thenew-tariffs. Farmers and ranchers, like all Americans, will be paying more for many of the products they purchase, from seed for vegetable growers to tractors and other equipment made of steel. Some exemptions for products including potash and peat, which were hard fought for by agricultural organizations such as the American Farm Bureau Federation, are a testament to the effectiveness of farmers’ and ranchers raising their collective voice. Analysis by the Tax Foundation reports the tariffs applied in 2025 will result in an average tax increase of more than $1,900 for every U.S. household annually, which, would be the largest tax hike in 43 years, if negotiations are not initiated and resolved quickly. Retaliatory tariffs imposed by U.S. trading partners make American products more expensive than products from countries not facing such tariffs, thereby lowering demand for the more than -continued on next page