Full Extent of Effects of Tariffs on Ag Economy Is Still Unknown | Iowa Agribusiness Radio Network

Full extent of effects of tariffs on ag economy is still unknown | Iowa Agribusiness Radio Network

The impact of tariffs on consumers is well known. As we pay more to import certain products, consumers are having to compensate for that by paying more at the register. Things are not so clear when it comes to the effects that tariffs have on exports. We know that things are worse, but it’s difficult to figure out just how much we’re losing. Iowa State University Economist Chad Hart said that makes things tricky. https://d30hko96l9xirl.cloudfront

US consumers feel the hit of tariffs and inflation

Around 80% of US consumers have felt noticeable inflation over the past three years and a majority of consumers expect the burden of tariffs to be added to prices. That is according to a survey of 2,000 US consumers conducted by consultancy Simon-Kucher, which reveals how tariffs will impact spending patterns.