Trade War Costing Nebraska Farmers $1 Billion

A new analysis by the Nebraska Farm Bureau estimates the ongoing retaliatory tariffs imposed on U.S. agricultural exports will cost Nebraska producers $943 million in lost revenues in 2019. The projected losses would be in addition to tariff-related losses in farm-level income estimated between $695 million to $1 billion in 2018. The analysis was conducted to provide an assessment of losses independent of the Market Facilitation Program assistance available to farmers. Nebraska Farm Bureau President Steve Nelson says the results show “how critical it is that we resolve the prolonged trade conflicts that have created the tariff pressures.” The analysis shows that Nebraska soybean and corn growers will likely see the greatest cumulative losses. Soybean producers as a group are projected to lose out on nearly $589 million from retaliatory tariffs, and corn producers are estimated to lose roughly $251 million. Pork producers in the state are projected to see $40 million in losses, while sorghum and wheat growers will collectively experience losses around $20 million.