President-elect Trump’s criticisms of trade agreements were a central part of his candidacy, leading many to expect that there will be increased trade barriers over the next four years.
This could hurt US exporters, especially if other countries respond with similar measures, sparking trade and tariff wars. These concerns are weighing heavily on the agricultural sector, which accounts for 10% of all US exports. If China, Mexico, the EU and other major trade partners buy less soybeans, wheat, corn and livestock from the US, our farmers could see a sharp decline in revenue.
Corn, wheat and soybeans tumbled to the lowest price in weeks with a weak finish on Friday.