U.S. President Donald Trump is set to announce 20% tariffs on most imported goods, following previous duties on autos, steel, aluminum, and products from China, Mexico, and Canada. The move has already triggered threats of retaliation from key U.S. trade partners, raising concerns over disruptions in global markets. Economists warn that American consumers could face higher prices for food items such as meat, dairy, fresh fruits, and vegetables, while U.S. farmers risk losing their largest foreign buyers.
The $191 billion U.S. agricultural export sector, heavily reliant on China, Canada, and Mexico, could suffer significant losses. In 2024, U.S. soybean exports totaled $24.5 billion, with China accounting for more than half, but trade tensions have already led to a decline from previous years. Corn, wheat, beef, and pork exports are also vulnerable to retaliatory tariffs, particularly in key markets like South Korea, Japan, and Mexico. Analysts recall that similar trade conflicts in Trump’s first term led to $27 billion in lost agricultural sales, mostly due to China’s countermeasures.
Meanwhile, U.S. agricultural imports reached a record $214.1 billion in 2024, with key items including fresh vegetables, fruits, beef, coffee, and dairy products. If retaliatory tariffs escalate, consumers may face further price hikes and shortages. As trade tensions mount, experts predict volatile market reactions and increased pressure on the agricultural sector, which could have long-term economic implications.
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