Trump’s proposed tariffs could devalue Iowa crops

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Trump’s proposed tariffs could devalue Iowa crops

The day's local, regional and national news, detailed events and late-breaking stories are presented by the ABC 6 News Team, along with the latest sports, weather updates including the extended forecast.

(ABC 6 News) — President Donald Trump’s proposed tariffs could lead to farmers in Iowa seeing crops like corn and soybeans drop in value, or even markets closed off for their products.

The president’s proposed tariffs would implement a 25% tax on all goods coming from Canada and Mexico as well as an even higher tax on good from China.

Related: Canadian foreign minister warns of ‘Trump tariff tax’ on Americans as threat of 25% tariff looms

In retaliation, those countries are expected to impose their own tax on goods exported from the U.S. Farmers say it could have negative consequences.

“One, we either don’t sell our products, and we have an overabundance of crops in the United States we can’t get rid of. Or two, people won’t be able to afford what’s coming in to the country. It’ll raise our fertilizer prices or could raise other inputs that come in from other countries,” said Iowa farmer Jason Orr.

President Trump has also ordered the Environmental Protection Agency to consider allowing the use of E-15 gasoline year-round, which could be good news as Iowa distributed a record-breaking amount of ethanol in 2023.