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Global conflict and trade shifts pressuring U.S. ag exports

An ag economist with Ohio State University says the Iranian conflict is having an impact on U.S. ag trade around the world.

Ian Sheldon says President Trump recently threatened to walk back a signed trade agreement with the United Kingdom.

“The IMF (International Monetary Fund) is forecasting the UK to suffer the most out of all of the G7 countries because of the energy price hikes,” he says. “This latest action is creating additional uncertainty for UK exporters and American exporters to the UK.”

The U.S.-UK Economic Prosperity Deal, signed in 2025, lowered tariff rate quotas, and expanded market access for U.S. beef and ethanol.

Sheldon tells Brownfield a renegotiation of the deal could impact future market access for those products.

“This just adds to the trade policy uncertainty, exchange rate uncertainty, uncertainty around energy, fertilizer prices, and future export markets,” he says.

Sheldon says working to continue to expand ag exports will remain critical for the United States to help balance large domestic supplies.

The UK is currently the fourteenth largest export market for U.S. agricultural goods.

AUDIO: Ian Sheldon, Ohio State University