American agriculture suffers heavy blow from tariff policies, hindering agricultural product exports and forcing the prices of agricultural machinery and fertilizers to increase.
Recently, American media reported that the U.S. agricultural economy is suffering from the impact of the Trump administration's tariff policies, especially in the agricultural trade and processing industries. The Los Angeles Times pointed out in the article that the quarterly financial reports of large agricultural enterprises in the U.S. indicate that the tariff policies implemented by the Trump administration are having a negative impact on agricultural trade, the purchase of farm equipment such as tractors, and the import of chemicals such as pesticides and fertilizers. Among them, the agricultural trade and processing industry is one of the hardest-hit sectors, with some major American agricultural companies stating that the uncertainty of U.S. government trade policies significantly obstructs the export of agricultural products. The report specifically mentioned that China has significantly reduced imports of beef and soybeans from the U.S., turning to countries in South America and Europe for imports. In addition, several American tractor manufacturers have stated that due to geopolitical uncertainties and trade frictions affecting American farmers' confidence, sales in the first quarter have decreased. Farm machinery giant Agco Corporation announced price increases to cope with tariff impacts. Tariff policies are also significantly inhibiting the import of pesticides and fertilizers in the U.S. Minnesota-based Mosaic Company, a major supplier of potash, stated that phosphate imports have decreased due to tariff impacts compared to the same period last year. Some fertilizer companies have indicated that due to tariff impacts, costs have increased and they have had to raise product prices, ultimately to be borne by American consumers.
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