Back to today’s briefing

Story perspectives

Farmers Warn: Trump's Tariffs Threaten Agriculture's Future

7/19/2025

50 12

Summary

Story summary

Farmers and economists at the University of Montana gathered to voice their concerns over President Trump's tariffs on agriculture. They emphasized the turmoil in trade with China and the anxiety surrounding shifting tariff deadlines. While these tariffs have brought in tax revenue, they pose a threat of inflation and jeopardize vital long-term trade connections.

History

Historical Context

The Smoot-Hawley Tariff Act of 1930 raised U.S. tariffs on over 20,000 goods, contributing to a 50% drop in agricultural exports and retaliatory tariffs from other nations. This legislation is often linked to the severity of the Great Depression. Today, farmers express similar fears regarding President Trump's tariffs, which could disrupt trade and echo the economic isolation of the 1930s.

1 of 2

Story summary

Farmers and economists at the University of Montana gathered to voice their concerns over President Trump's tariffs on agriculture. They emphasized the turmoil in trade with China and the anxiety surrounding shifting tariff deadlines. While these tariffs have brought in tax revenue, they pose a threat of inflation and jeopardize vital long-term trade connections.

1 / 2