| FOR IMMEDIATE RELEASE January 20, 2025 Contact: [email protected] “Expansion Plans on Hold” “Farmers are Losing Money on Every Bushel That They Grow” Farmers Highlight Tariff Impacts on 2026 Farm Season With major 2026 planning already underway, farmers and agriculture leaders from across the country shared firsthand how tariffs are impacting their operations, raising costs, and hurting American families. Farmers are facing continued uncertainty driven by tariffs and continually shifting trade policy. Rising costs and unstable export markets are forcing difficult decisions about planting, purchasing, and future investments. Since April 2025, the Trump Administration has imposed across-the-board tariffs of 10%–50% on nearly all imports, with higher rates for dozens of countries and industries. The average tariff rate now tops 16.8%, the highest since 1935. Watch The Press Call Here  From left to right: Benjamin Peterson, Farmer, E. L. Peterson Ranch (MT); Aaron Lehman, Farmer and President, Iowa Farmers Union; Nick Levendofsky, Executive Director, Kansas Farmers Union (KS) “Because of [tariff] uncertainty, we’ve put expansion plans on hold,” said Benjamin Peterson, Farmer, E. L. Peterson Ranch (MT). “We currently employ two people, and we are delaying equipment purchases and infrastructure upgrades that would improve efficacy and animal health, as well as improve our ability to absorb market swings in the future…” “The unpredictability of tariffs and prices and costs that affects us makes it impossible to do this from a good business perspective, and that’s what we’re doing,” said Peterson. “We’re in business. This is making it harder for that to happen.” “Farmers already have few choices in the marketplace, and a chaotic trade policy makes a bad situation even worse,” said Aaron Lehman, Farmer and President, Iowa Farmers Union. “How bad is the situation right now for the main commodities we grow here? At the local level, our corn is selling 44 cents below the estimated cost of production… Soybeans, locally, they’re selling for $1.30 below the Iowa State estimated cost of production. Farmers are losing money on every bushel that they grow.” “Farmers are questioning what to plant, how much acreage to commit to certain crops, and whether it makes sense to shift away from export-dependent crops, like grain sorghum,” said Nick Levendofsky, Executive Director, Kansas Farmers Union. “Some farmers are delaying equipment purchases, they’re scaling back input use or reconsidering long-term investments because they don’t know what markets or prices will look like. The bottom line is simple. Farmers need predictable trade policy and stable markets to plan responsibly for 2026.” ### About Tariffs Cost US Tariffs Cost US is a campaign dedicated to providing the public with reliable, comprehensive information about global trade and tariffs and their impact on both businesses and consumers. More information is available at tariffscostus.com. |
