What do Trump's Steel Tariffs Mean to Iowa Farmers?
Posted on 03/02/2018 at 11:26 AM by John Lande
Growing uncertainty in the global commodity trade could mean an uncertain outlook for ag commodity prices in 2018 and beyond. Recent articles from Bloomberg Quint, Agrimoney, and CNBC all indicate that some of the United State's biggest trading partners could possibly retaliate by imposing their own tariffs on agricultural products like pork, soybeans, and corn.
"In 2009, Mexico took retaliatory action in response to the U.S.’s refusal to implement a cross-border trucking plan agreed to under Nafta. That helped contribute to a 26 percent decline from the previous year in American agricultural exports to Mexico and affected products including wine, sunglasses, toothpaste, pork, apples, onions, soy sauce and mineral water."
-Excerpt from Bloomgberg Quint "Mexico is Said to Plan to Retaliate if U.S Imposes Steel Tariffs"
Given the new uncertainty these actions could throw into agricultural marketplace, it is a good idea to make sure agriculture loan files are buttoned up and banks are fully protected. Dickinson attorneys recently presented Avoiding Aggravation in Ag Lending, a two part webinar that highlights the items you need to be aware when dealing with agriculture loans.
The attorneys at Dickinson Law are able to help you find the problems in loan files and deal with the fallout if global turmoil forces distressed farming operations into foreclosure or bankruptcy.
The material in this blog is not intended, nor should it be construed or relied upon, as legal advice. Please consult with an attorney if specific legal information is needed.
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