Study: Iowa farmers could lose up to $1 billion because of trade war

Local News

WASHINGTON, D.C. – Iowa farmers could lose millions of dollars because of the Trump Administration’s trade war, but it’s not as bad as the farm crisis in the 1980’s.

According to new research from Iowa State University, the loss of income to Iowa farmers as a result of the tariffs imposed by the Chinese could add up to losing $1 billion. According to the study, Iowa’s gross state product in 2018 was $190 billion in 2017, with an export value of about $13.4 billion.

The losses will be felt more by consumers, experts say, because at the end of the day, tariffs are a tax, and that eventually comes back to the consumer at the cash register.

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