Source: Reason
by Eric Boehm
“In response to tariffs imposed by Trump in February, China slapped new tariffs on a wide range of American farm exports, including beef, chicken, corn, cotton, dairy, fruits, pork, soybeans, and various vegetables. Both Canada and Mexico have indicated that they plan to retaliate against American tariffs with new levies targeting American agricultural goods. It’s impossible to know how bad the losses for American farmers could be, but the potential is high. The U.S. exported $176 billion of agricultural goods in 2024, and the three largest destinations for those exports were Mexico, Canada, and China, according to the Farm Bureau. That gravy train of federal subsidies to farmers is already rolling again, even before the majority of Trump’s promised tariffs hit. The Department of Agriculture announced earlier this month that it will distribute $10 billion in ’emergency’ income subsidies funded by the spending bill Congress approved in December.” (03/25/25)