Nebraska Farm Bureau: Trade Conflicts Cost State $1.2B

A Nebraska Farm Bureau news says trade conflicts have cost Nebraska farmers adult to $1 billion in plantation income this year.

The news expelled on Dec. 3 says additional costs embody between $164 million and $242 million in mislaid labor income.

The news didn’t discuss President Donald Trump, who imposed high U.S. tariffs on steel and aluminum imports progressing this year.

The mercantile research prepared for a Farm Bureau privately examined a impact on corn, soybeans and hogs, a products many influenced by a retaliatory tariffs.

Jay Rempe is a Nebraska Farm Bureau comparison economist and co-author of a new report, and he says a sum detriment to a broader Nebraska economy was estimated as high as $1.2 billion.

The research didn’t comment for sovereign Market Facilitation Payments directed during offsetting a detriment of plantation income since of trade disruptions.