PEORIA -- (25NewsNow) -- Tariffs and trade are a real concern for farmers, as President Donald Trump is considering imposing a 25% tariff on goods imported from Mexico and Canada on Feb. 1.
Trump said it would take effect if both countries didn’t take steps to stop the flow of illegal drugs and immigrants crossing the borders.
Peoria County Farm Bureau Manager Charlie Hensley said if a tariff goes into place, the U.S. may face backlash from the two countries.
“This may lead to negative impacts on the farming community. Retaliatory tariffs target agriculture, so when we talk about getting into a Trade War, the agriculture industry is the target of those tariffs,” said Hensley.
The U.S. imports a lot of potash, which is used in fertilizer and oil from Canada. Additionally, Canada has threatened retaliatory tariffs on those products if those tariffs are put into place. Hensley said this could lead to farmers having higher production costs within those areas.
“That’s something where not only farmers, but consumers, could likely see higher prices,” said Hensley.
He said farmers are interested in expanding their trade markets to other countries so it can expand their profits, and adds farmers are looking for hope and change.
