(WASHINGTON D.C.) — Farmers across the U.S. were pleased to hear most countries will get a 90-day reprieve from the new individualized tariffs announced April 2—an opportunity for negotiations with our trading partners that could lead to consensus and potentially avoid permanent tariffs, along with improving market access for U.S. agriculture.
“Farm Bureau appreciates President Trump’s decision to pause the reciprocal tariffs on dozens of America’s trading partners for 90 days,” said American Farm Bureau president Zippy Duvall. “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.”
With the pause came a reciprocal rate drop to 10% for each of the countries itemized during that announcement—except for China. After including the “normal” VAT and standard duty rate for soy, the effective rate for soybeans shipped to China is 114.73%.
