Tariffs Squeeze Trump-Loving Farmers as Fertilizer Prices Soar
"Fertilizer prices are surging, eroding American farmers’ profits and adding pressure on the Trump administration to slash tariffs on key crop nutrients.
Tightening supplies and tariff concerns have driven up costs for potash-, nitrogen-, and phosphate-based products just as farmers are earning less for their harvests. A North American benchmark of fertilizer prices recently surged to its highest level since at least 2016 relative to a basket of grain and oilseed futures — topping even the highs seen at the time of Russia’s invasion of Ukraine.
The US gets the vast majority of its potash — used in the production of corn and soybeans, the nation’s two biggest crops — from Canada, whose supplies are mostly exempt from tariffs under the free trade agreement among the US, Mexico and Canada. Levies still apply on overall fertilizer shipments from other producers including Qatar and Saudi Arabia.
“Tariff uncertainty has certainly been a factor in driving fertilizer prices higher, even with exemptions carved out for most fertilizers,” Daniel Cole, a Bloomberg Intelligence analyst, said by email. While other issues — including China’s decision to curb some exports and recent production outages in the Middle East — have also fueled the rally, the fertilizer industry “has largely been in a state of confusion since the tariff rollout.”
The squeeze highlights the financial strain on farmers — many of whom remain loyal Trump supporters — as they contend with depressed crop prices and ongoing trade disruptions. While the administration has stood firmly behind growers on key issues like biofuel-blending quotas, it has yet to address the rising concerns around affordability."
https://www.bloomberg.com/news/articles/2025-08-28/tariffs-squeeze-trump-loving-farmers-as-fertilizer-prices-soar
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