A study released by the Iowa State University Center for Agriculture and Rural Development shows the tariff impact from the trade war with China has caused $1 to $2 of losses to Iowa’s economy. The average revenue loss to soybean growers is $545 million. Iowa Soybean Association President Lindsey Greiner says farmers are hurting deeply from the trade war.
He says farmers are facing lending challenges as they plan for next year and many bankers are getting nervous.
Greiner says there’s been talk by U.S. and Chinese officials of a framework for resolving the trade dispute that could be unveiled during the upcoming G-20 summit.
Greiner says the longer the trade dispute goes on the more likely farmers will lose their patience with the Trump administration.
The ISU CARD study said the average revenue loss to Iowa corn growers is $333 million and $776 million for pork producers.
