U.S. farm economy is starting to see first hits from Trump tariffs

Source: Los Angeles Times

U.S. farm economy is starting to see first hits from Trump tariffs

Gerson Freitas Jr.
Fri, May 9, 2025 at 2:47 PM EDT 3 min read

President Trump’s tariffs are upending crop trading, delaying tractor purchases and constraining imports of chemical supplies into the United States.

That’s the main message from big agricultural businesses as they report their quarterly earnings, giving an early glimpse into the far-reaching impacts of the U.S. president’s trade war.

The disruptions in global trade threaten to extend a years-long slump in the U.S. farm industry, which had already been struggling with ample supplies, depressed crop prices and rising competition from Brazil. Lack of clarity on how the Trump administration will address much-needed incentives for crop-based fuels in the next few years has added to concerns.

Crop traders and processors have been among the hardest-hit. Archer-Daniels-Midland Co. and Bunge Global SA saw their combined operating profits slump by about $750 million in the first quarter, with both companies citing an impact from trade and biofuel policy uncertainty.

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