Trump Follows Through on Reciprocal Tariff Promise

As expected, President Trump on Wednesday announced sweeping tariffs ranging from 10% to 49% on foreign countries. During an event in the White House Rose Garden, the President said the U.S. will implement “reciprocal tariffs” on all countries of “approximately half” of what they charge us.

Most farm groups support the President’s focus on achieving fairer trade for the United States. However, they’ve also voiced their concerns about trade retaliation.

President Trump described what his administration named Liberation Day as being forever remembered as the day American industry is reborn, the day America’s destiny was reclaimed and the day we began to make America wealthy again.

As for agriculture, more than 20% of U.S. farm income is based on agricultural exports. And like other industries, America’s agricultural sector will be watching to see how markets react and whether the Trump Administration is prepared to offer aid in the case of retaliatory tariffs.

Source: Ag Information Network/Western Ag Network/White House