While President Trump signed the $867 billion Farm Bill in December, concerns persist over ongoing trade disputes, primarily with China and the European Union.
Tariffs placed on $200 billion of Chinese imported goods are set to rise from 10 percent to 25 percent March 1. That increase was postponed from the beginning of the year while the U.S. and China work to negotiate a new trade deal between the two economic powers.
But while the trade dispute has carried on, farmers have found it more difficult to sell their crops with China, one of the world’s largest markets, largely sealed off.
“It is hard to forecast what may happen on the trade front, but we have seen indications as of late that the President and China may be willing to work together to end the trade war,” Steve Ammerman, a New York Farm Bureau spokesman, said. “However, we need to see an end to the back and forth tariffs to really jumpstart the farm economy from a trade perspective.”