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An ERS study finds that retaliatory tariffs imposed on U.S. agricultural exports cut state-level sales, with estimated annual losses of $13.2 billion across commodities. Losses were concentrated in Midwestern states, especially for soybeans, sorghum, and pork.
The tariffs were imposed by six trading partners in response to U.S. steel, aluminum, and China-specific tariffs.
The analysis quantifies past export losses rather than announcing new trade restrictions, so it has limited immediate price effect. It does highlight the sensitivity of soybean and sorghum demand to trade-policy shocks.
ers.usda.govMar 7, 2022After 250 past neutral trade events, Soybeans moved a median +0.0% over 5 sessions (50% higher; middle half -1.4% to +1.6%), and -0.2% over 20.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
