A new report says a nearly $200 million decline in Nebraska’s agricultural exports in 2017 was driven by President Donald Trump’s threats to impose tariffs on U.S. trading partners.
The Nebraska Farm Bureau report attributes the drop to decreases in soybean and corn exports, while beef and pork exports both increased in 2017.
The bureau’s senior economist, Jay Rempe, says Trump’s talks of tariffs in January 2017 caused a decline in soybean and other commodity prices. Rempe points out that China’s retaliatory tariffs didn’t occur until May 2018.
The findings come as Trump imposed his latest tariff hike on Chinese goods Friday. Beijing vowed retaliatory measures.
Rempe says Nebraska’s agricultural community will continue to face pressure unless the administration resolves its trade disputes with China, Mexico and other countries.