Evaluating the impact of tariffs on US agriculture a year after liberation day

Le résumé fourni par la source

In April 2025, the Trump administration levied 10 percent tariffs on virtually all countries and higher “reciprocal” tariffs on certain countries, ushering in a new and uncertain tariff architecture that saw significant changes, exemptions, and additional actions over the following year. The tariffs modestly reduced overall US agricultural and food imports, but with significant heterogeneity by exporting country and product category. The tariffs had mixed effects on US agricultural exports, with exports to China and Canada falling partly because of retaliatory tariffs and consumer reactions, respectively. After imposing the tariffs, the United States negotiated several bilateral trade deals with other countries. However, given the lack of product-specific details, China’s continued retaliatory measures, and the Supreme Court’s decision striking down the bulk of US tariffs, it is unclear whether these deals with actually improve agricultural market access for US exporters.

Ce résumé expose les affirmations des auteurs. BNTIC ne l’interprète pas comme une validation indépendante des résultats.