HURON, S.D. – Two South Dakota agriculture organizations are watching potential upcoming tariffs closely.
President-elect Donald Trump is vowing tariffs on goods imported into the country.
Both groups remember Trump’s costly trade war during his first administration.
On Monday, Trump vowed 25 percent tariffs on goods from Mexico and Canada—as well as additional 10 percent tariff on products from China—unless the countries control the flood of illegal drugs into the U.S.
Speaking with South Dakota’s Public Broadcasting’s In The Moment before Trump’s new tariff announcement, Scott VanderWal with the South Dakota Farm Bureau said the talk of tariffs makes members of his group a little bit nervous but believes the new administration will be better for agriculture overall.
But Doug Sombke with South Dakota Farmers Union, worries about permanent damage to markets for the state’s top commodities – much of what is still being felt today by a struggling farm economy from Trump’s last time in office.
He said U.S. soybeans lost a big market with China during the first Trump administration. South America and other countries have taken over what was once U.S. export markets following Trump’s first administration.
Trump supports the use of tariffs against US trading partners he views as taking advantage of the United States.
Most economists say U.S. production agriculture, taxpayers and consumers will ultimately bear the cost and shortages of goods created by Trump’s tariff policies.
