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Haunted by tariffs and trade wars: A positive trade policy for US agriculture

Author

Listed:
  • Warren Maruyama

    (Hogan Lovells)

  • Joseph W. Glauber

    (International Food Policy Research Institute)

  • Alan Wm. Wolff

    (Peterson Institute for International Economics)

  • Nicki Ghazarian-Foye

    (Former Hogan Lovells)

Abstract

US farmers have been among the biggest beneficiaries of US free trade agreements and the postwar creation of a rules-based global trading system. Under recent administrations, however, farmers have been disadvantaged by the US shift away from forging such trade pacts. Agriculture has also been one of the sectors most affected by the volatility and uncertainty of the first and second Trump administrations' high tariffs and trade wars. Both Trump administrations have compensated farmers for lost export revenue, but such a trade policy is not a sustainable long-term solution and cannot replace a more positive policy that improves trade rules and expands farmers' market access abroad.

Suggested Citation

  • Warren Maruyama & Joseph W. Glauber & Alan Wm. Wolff & Nicki Ghazarian-Foye, 2026. "Haunted by tariffs and trade wars: A positive trade policy for US agriculture," Working Paper Series WP26-8, Peterson Institute for International Economics.
    • Handle: RePEc:iie:wpaper:wp26-8
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    File URL: https://www.piie.com/publications/working-papers/2026/haunted-tariffs-and-trade-wars-positive-trade-policy-us
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    Keywords

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    JEL classification:

    • F51 - International Economics - - International Relations, National Security, and International Political Economy - - - International Conflicts; Negotiations; Sanctions
    • F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • Q17 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agriculture in International Trade

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