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Assessing potential impact of Trump’s tariff threats to commodity markets
An ag economist says the commodity markets could take a wait and see approach under a second Trump administration.
Jim McCormick, co-founder of AgMarket.Net, says, “President Trump has talked a lot about tariffs and what he wants to do with raising tariffs with different countries around the world. We’re going to wait and see what he actually does with that, and then we’ll wait and see how the world traders and these different countries respond to any tariffs he may put on.”
He tells Brownfield markets were impacted during Trump’s first term. “It was the second half when he really started ratcheting up the trade pressure with the Chinese. The bean market really took it on the chin, drove down to $8 beans, and the market did struggle.”
McCormick says he expects the tariff issue to be front and center on the first day of Trump’s presidency in 2025.
INTERVIEW: AgMarket.Net’s Jim McCormick
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