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Impacts of Retaliatory Tariffs on Farm Income and Government Programs

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  • Westhoff, Patrick
  • Davids, Tracy
  • Soon, Byung Min

Abstract

Eliminating retaliatory tariffs would increase U.S. agricultural exports and commodity prices. Considering cross-commodity effects and impacts on production expenses and farm bill programs, the estimated impact on net farm income is about $5 billion in 2020, less than the value of market facilitation program payments in 2018 and 2019.

Suggested Citation

  • Westhoff, Patrick & Davids, Tracy & Soon, Byung Min, 2019. "Impacts of Retaliatory Tariffs on Farm Income and Government Programs," Choices: The Magazine of Food, Farm, and Resource Issues, Agricultural and Applied Economics Association, vol. 34(4).
    • Handle: RePEc:ags:aaeach:301011
    DOI: 10.22004/ag.econ.301011
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    Cited by:

    1. Morgan, Stephen & Arita, Shawn & Beckman, Jayson & Ahsan, Saquib & Russell, Dylan & Jarrell, Philip & Kenner, Bart, 2022. "The Economic Impacts of Retaliatory Tariffs on U.S. Agriculture," USDA Miscellaneous 316892, United States Department of Agriculture.
    2. Cortney Cowley, 2020. "Reshuffling in Soybean Markets following Chinese Tariffs," Economic Review, Federal Reserve Bank of Kansas City, vol. 0(no.1), pages 5-30, June.
    3. Amani Elobeid & Miguel Carriquiry & Jerome Dumortier & David Swenson & Dermot J. Hayes, 2021. "China‐U.S. trade dispute and its impact on global agricultural markets, the U.S. economy, and greenhouse gas emissions," Journal of Agricultural Economics, Wiley Blackwell, vol. 72(3), pages 647-672, September.
    4. Lee, Meongsu & Westhoff, Patrick, 2020. "The U.S.-China Trade war and Impact on Land Returning to Soybean Production from the Conservation Reserve Program," 2020 Annual Meeting, July 26-28, Kansas City, Missouri 304518, Agricultural and Applied Economics Association.
    5. Jason H. Grant & Shawn Arita & Charlotte Emlinger & Robert Johansson & Chaoping Xie, 2021. "Agricultural exports and retaliatory trade actions: An empirical assessment of the 2018/2019 trade conflict," Applied Economic Perspectives and Policy, John Wiley & Sons, vol. 43(2), pages 619-640, June.

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    Keywords

    International Relations/Trade;

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