Economic Research Report No. (ERR-304) 53 pp
The Economic Impacts of Retaliatory Tariffs on U.S. Agriculture
In 2018, the United States imposed Section 232 tariffs on steel and aluminum imports from major trading partners and separately Section 301 tariffs on a broad range of imports from China. In response to these actions, six trading partners—Canada, China, the European Union, India, Mexico, and Turkey—responded with retaliatory tariffs on a range of U.S. agricultural exports, including agricultural and food products. The agricultural products targeted for retaliation were valued at $30.4 billion in 2017, with individual product lines experiencing tariff increases ranging from 2 to 140 percent. This report provides a detailed look at the impact of retaliatory tariffs by State and commodity and estimates the direct export losses associated with the trade conflict.
Keywords: U.S. agricultural exports, retaliatory tariffs, trade retaliation, trade dispute, China, State-level exports, trade agreements, international trade, soybeans, sorghum, pork
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