President-elect Donald Trump has talked about increasing tariffs on foreign goods, particularly those from China. He has argued such import taxes would keep manufacturing jobs in the U.S., shrink the federal deficit and help lower food prices.
“The agricultural economy is inherently cyclical, and ag lenders are navigating the changing conditions across the sectors they serve,” says Jackson Takach, chief economist of Farmer Mac.
The move is in retaliation to a decision by Country Financial, an Illinois Farm Bureau affiliate, to drop the Farm Bureau membership eligibility requirement for non-farm insurance policyholders in the state.
